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If a firm buys on trade credit terms of 5/10, net 30 and decides to forgo the trade credit discount and pay on the net

If a firm buys on trade credit terms of 5/10, net 30 and decides to forgo the trade credit discount and pay on the net day, what is the annualized cost of forgoing the discount (assume a 365-day year)? The annualized cost of the trade credit terms of 5/10, net 30 is %. (Round to two decimal places.

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