Holodec Company currently offers standard terms of 1/10 net 30. It has an average collection period of 25 days and 50% of customers take advantage of the discount. They are considering a new credit policy of 3/15 net 60. They expect the new policy to increase sales from $900,000 to $1,200,000. The new policy should result in 80% of customers taking advantage of the discount and an average collection period of 28 days. Its contribution margin would remain at 10% and its short term cost of financing is 10% Should the new policy by implemented?

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