Mavericks cosmetics buys $3632986 of product(net of discounts) on terms of 4/10 net 60. and it currently pays on the 10th day and takes discounts. Mavericks plans to expand and this will require additional financing. If Mavericks decides to forego discounts, what would the effective percentage cost of its trade credit be, based on a 365 day rate?

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To calculate the effective percentage cost of trade credit for Mavericks cosmetics if they decide to ... View the full answer