The Wood Connection decided to offer cash discounts toits regular credit customers, provided the credit customers have
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Question:
The Wood Connection decided to offer cash discounts toits regular credit customers, provided the credit customers have a proven trackrecord of on-time payment. The Wood Connection is offering Monkey Suppliers adiscount on its credit purchases. The credit term offered is 2/10, net 60. ShouldMonkey Suppliers take the discount if a short-term loan can be obtained at 9%?(Note: Assume a 365-day year.)
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