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Wontaby Ltd . is extending its credit terms from 3 0 to 4 5 days. Sales are expected to increase from $ 4 . 7
Wontaby Ltd is extending its credit terms from to days. Sales are expected to increase from $ million to $ million as a result. Wontaby finances shortterm assets at the bank at a cost of percent annually. Calculate the additional annual financing cost of this change in credit terms. Use days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole dollar. Enter answer in whole dollar not in million.
Annual financing cost $
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