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Wildhorse Corp. sells its goods with terms of 4 / 1 5 EOM, net 4 0 . What is the implicit cost of the trade

Wildhorse Corp. sells its goods with terms of 4/15 EOM, net 40.
What is the implicit cost of the trade credit? (Do not round
itermediate calculations. Use 365 days for calculation. Round
answer to 2 decimal places, e.g.12.25%.)

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