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Your supplier offers terms of 1/15, net 50 . What is the effective annual cost of trade credit if you choose to forgo the discount

Your supplier offers terms of 1/15, net 50 . What is the effective annual cost of trade credit if you choose to forgo the discount and pay on day 50? (Hint: Use a 365-day year). The effective annual cost is \%. (Rounded to two decimal places.)

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