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Home Store Inc. sells on terms of 2/10, net 80. What is the effective annual cost of trade credit under these terms? Use a 365-day

Home Store Inc. sells on terms of 2/10, net 80. What is the effective annual cost of trade credit under these terms? Use a 365-day year. Round the answer to two decimal places in percentage form.

(a.18.35%; b.15.68%; c.15.47%; d.11.11%)

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