Newsome Inc

question 73

Multiple Choice

Newsome Inc.buys on terms of 3/15, net 45.It does not take the discount, and it generally pays after 60 days.What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?

• A) 25.09%
• B) 27.59%
• C) 30.35%
• D) 33.39%
• E) 36.73%

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