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QUESTION THREE [20] 3.1 Assume that a firm is offered 2/10 net 30, indicating that if the account is settled in 10 days, the firm

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QUESTION THREE [20] 3.1 Assume that a firm is offered 2/10 net 30, indicating that if the account is settled in 10 days, the firm may keep a discount of 2%. If the discount is not taken, then the full amount is payable in 30 days. Required: Calculate the cost of foregoing the discount. (12) Differentiate between the various aims of appraising projects. (8) 3.2

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