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The firm grants credit terms of 1/5, net 30 on purchases of $1,000 or greater. What is the effective rate of the discount ? A.

The firm grants credit terms of 1/5, net 30 on purchases of $1,000 or greater. What is the effective rate of the discount ?

A. 15.80%

B. 19.03%

C. 18.80%

D. 12.27%

E. 17.24%

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