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Zhang Industries buys the majority of its needs from Nguyen Wholesale Ltd. Nguyen offers terms of 2/20, net 60. Zhang can borrow at a rate

Zhang Industries buys the majority of its needs from Nguyen Wholesale Ltd. Nguyen offers terms of 2/20, net 60. Zhang can borrow at a rate of 8%.

Required:

Determine if Zhang should take the discount or pay in 60 days.

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