What is the annualized cost of forgoing the discount

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If a firm buys on trade credit terms of 2/10, net 75 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 2/10, net 75 is ___%. (Round to two decimal places)

Reference no: EM13849263

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