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If a firm buys on trade credit terms of 5/15, net 50 and decides to...

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Accounting

If a firm buys on trade credit terms of 5/15, net 50 and decides to forgo the trade credit discount and pay on the net day, what is the annualized cost of forgoing the discount (assume a 360-day year) ?

The annualized cost of the trade credit terms of 5/15, net 50 is _____ % ?

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