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AutoNation Inc purchases $3,500,000 in goods per year from its sole supplier on terms of 5/15...

AutoNation Inc purchases $3,500,000 in goods per year from its sole supplier on terms of 5/15 net 55. If the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its non-free trade credit (Assume a 365-day year)?

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jeff jeffy answered 1 year ago
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