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What is the effective annual cost of credit terms of 3/15 net 30, if the firm stretches the accounts payable to 60 days? A. 1.7%

What is the effective annual cost of credit terms of 3/15 net 30, if the firm stretches the accounts payable to 60 days?

A.

1.7%

B.

3.35%

C.

12.65%

D.

28.03%

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