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A firm buys on terms of 3/15, net 45 days. It does not take the discount, and it generally pays ...

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A firm buys on terms of 3/15, net 45 days. It does not take the discount, and it generally pays ...

A firm buys on terms of 3/15, net 45 days. It does not take the discount, and it generally pays after 65 days. What is the nominal annual cost of its non-free trade credit, based on a 365-day year?

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22.58%

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23.71%

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24.89%

▸

26.14%

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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