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If a firm buys under terms of 3/15, net 30 , but actually pays on the 20 th day and still takes the discount, what

image text in transcribed If a firm buys under terms of 3/15, net 30 , but actually pays on the 20 th day and still takes the discount, what is the nominal cost of its nonfree trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places. %

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