OTIC Corporation purchased materials valued at $9 million (without discounts) with terms of 7/10; net 30 days. Normally, the company pays on the fifth day and takes advantage of the discounts. The company plans to expand and requires additional financing. 

Determine the additional credit you could get and the nominal cost of that credit.

Answer rating: 100% (QA)

To determine the additional credit OTIC Corporation could get and the nominal cost of that credit we ... View the full answer