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Regis clothiers can borrow from its bank at 13 percent to

Regis Clothiers can borrow from its bank at 13 percent to take a cash discount. The terms of the cash discount are 2/20, net 50.

a. Compute the cost of not taking the cash discount. (Use a 360-day year. Do not round intermediate calculations. Input your final answer as a percent rounded to 2 decimal places.) Cost of not taking a cash discount %

b. Should the firm borrow the funds? Yes No

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