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Tivo Corporation purchases its raw materials on credit with terms of 3/10, net 30. What is the annual percentage rate (APR) of non-free trade credit

Tivo Corporation purchases its raw materials on credit with terms of 3/10, net 30. What is the annual percentage rate (APR) of non-free trade credit if Tivo does not take the discount and pays on Day 30. In your computations, assume there are 360 days in a year.

Select one:

a.54.00%

b.111.34%

c.55.67%

d.27.84%

e.37.11%

22

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