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Monsters Inc. buys on terms of 2/14, net 45 days, it does not take discounts, and it actually.pays after 58 days. What is the effective

Monsters Inc. buys on terms of 2/14, net 45 days, it does not take discounts, and it actually.pays after 58 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)

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