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Talmud Book Company borrows $20,100 for 30 days at 12 percent interest. What is the dollar cost of the loan? (Use a 360-day year. Do

Talmud Book Company borrows $20,100 for 30 days at 12 percent interest.

What is the dollar cost of the loan? (Use a 360-day year. Do not round intermediate calculations and round your final answer to 2 decimal places.)

Cost of loan $

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