Newsome Inc. buys on terms of 3/15, net 45. It does not take the discount, and it

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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?

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Essentials of Managerial Finance

ISBN: 978-0324422702

14th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Feb 27, 2021 08:42 PM

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Newsome Inc. buys on terms of 3/15, net 45. It does not take the discount, and it

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Essentials of Managerial Finance

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