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MY HOMEWORK IS TIMED please answer as soon as possible; thanks. Your supplier offers terms of 1.4/8, Net 45. What is the effective annual cost

MY HOMEWORK IS TIMED please answer as soon as possible; thanks.

Your supplier offers terms of 1.4/8, Net 45. What is the effective annual cost of trade credit if you choose to forgo the discount and pay on day 45?

The effective annual cost of the trade credit is what %?

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