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Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of

Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller.
Consider this case:
Tasty Tuna Corporation buys on terms of 3.515, net 30 from its chief supplier.
If Tasty Tuna receives an invoice for $856.75, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.)
$1,033.45
$661.41
$826.76
$702.75
The nominal annual cost of the trade credit extended by the supplier is , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.)
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