Mill street corporation sells its goods with terms of 412, Financial Management

Mill street corporation sells its goods with terms of 412

Mill Street Corporation sells its goods with terms of 4/12 EOM, net 68. What is the implicit cost of the trade credit? (Round intermediate calculations to 4 decimal places, e.g. 1.2541 and final answer to 2 decimal places, e.g. 12.25%.) The implicit cost of the trade credit is %.

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Financial Management: Mill street corporation sells its goods with terms of 412

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