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firm buys on terms of 2/10, net 20 . It does not take the discount, and it generally pays after 55 days. What is the

firm buys on terms of 2/10, net 20 . It does not take the discount, and it generally pays after 55 days. What is the nominal annual percentage cost of its nonree trade credit, based on a 365-day year? a. 2.04% b. 18.02% c. 16.55% d. 8.11% e. 13.54%

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