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Will give thumbs up rating for help. Thanks! Your supplier offers terms of 4/20, net 40. What is the effective annual cost of trade credit

Will give thumbs up rating for help. Thanks!

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Your supplier offers terms of 4/20, net 40. What is the effective annual cost of trade credit if you choose to forgo the discount and pay on day 40? (Hint: Use a 365-day year). The effective annual cost is %. (Rounded to two decimal places.)

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