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Bagzilari Corportion is a manufacturing company, and has a supplier which sells on credit with credit terms of 2/15, net 45 days. The firm does

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Bagzilari Corportion is a manufacturing company, and has a supplier which sells on credit with credit terms of 2/15, net 45 days. The firm does not take the discount and pays on the 45th day. What is the effective annual cost of not taking this discount? (Assume a 365-day year.) 25% 27.86% 22% 36.34%

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