Nike Corp. buys on 3/10, net 30 days. What is the nominal cost of interest if Nike
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Question:
Nike Corp. buys on 3/10, net 30 days. What is the nominal cost of interest if Nike does not take advantage of the trade discount offered? Assume a 360-day year.
A.12.0%
B. 22.3%
C. 55.7%
D. 66.3%
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