Chris Angle can borrow from its bank at 14 percent to take a cash discount....
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Finance
Chris Angle can borrow from its bank at 14 percent to take a cash discount. The terms of the cash discount are 2.5/15 net 85.
a. Compute the cost of not taking the cash discount. (Use 365 days in a year. Round intermediate calculations to 4 decimal places. Round the final answer to 2 decimal places.)
Cost of not taking a cash discount =
b. Should Chris borrow the funds?
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