Assuming a customer pays the invoice at the end of the, Financial Management

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Assuming a customer pays the invoice at the end of the

ABC extends credit to its customers on terms of 1/10, net 30. Assuming a customer pays the invoice at the end of the costly trade credit period, what is the annualized cost of trade credit? (Show your answer in decimal form to four places, e.g., 12.34% would be 0.1234)

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