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Suppose that a firm purchases $1000 worth of goods on trade credit. It will receive a discount if it pays the bill within 10 days

Suppose that a firm purchases $1000 worth of goods on trade credit. It will receive a discount if it pays the bill within 10 days and must pay the entire bill within 30 days. If the cost of forgoing the cash discount is 96.05 percent p.a., what is the percentage discount?

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