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Mill Street Corporation sells its goods with terms of 2/13 EOM, net 75. What is the implicit cost of the trade credit? (Round Intermediate calculations
Mill Street Corporation sells its goods with terms of 2/13 EOM, net 75. What is the implicit cost of the trade credit? (Round Intermediate calculations to 4 decimal places, e.g. 1.2541 and final answer to 2 decimal places, e.g. 12.25 %.) The implicit cost of the trade credit is 14.81 %. Click if you would like to Show Work for this question: Open Show Work
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