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Taylor texbooks Inc. buys on terms of 2/15, net 50 days. It does not take discounts, and it tipically pays on time, 50 days after
Taylor texbooks Inc. buys on terms of 2/15, net 50 days. It does not take discounts, and it tipically pays on time, 50 days after the invoice date. Net purchases amount to 450,000 per year. On average, what is the dollar amount of costly trade credit (total credit- free credit) the firm receives during the year? (Assume a 365 day year, and note that purchases are net of discounts
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