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XYZ buys on terms of 3/15, net 45. It does not take the discount. What is the effective annual percentage cost of its non-free trade

XYZ buys on terms of 3/15, net 45. It does not take the discount. What is the effective annual percentage cost of its non-free trade credit, based on a 365-day year? Please round to the nearest decimal places.

Group of answer choices

44.81%

25.09%

3.09%

37.08%

none of the above

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