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Study the information given below and determine the cost ( as a percentage, expressed to two decimal places ) to Tissot Traders of not accepting

Study the information given below and determine the cost

(

as a percentage, expressed to two decimal places

)

to Tissot Traders of not accepting the discount.

INFORMATION

Tissot Traders purchased inventory on credit from JKL Manufacturers. The credit terms offered by the manufacturer were

\frac{3}{12}

net

60

days.

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