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Logic Inc. produces Halloween costumes. The average price for one of its costumes is $200, and the variable cost of producing it is $100. The

Logic Inc. produces Halloween costumes. The average price for one of its costumes is $200, and the variable cost of producing it is $100. The company's monthly required rate of return is 2%, and a credit period of one month. What is the break-even probability of default before the company would reject granting credit to a new one-time customer?

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