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Chris Angle can borrow from its bank at 14 percent to take a cash discount....

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Finance

Chris Angle can borrow from its bank at 14 percent to take a cash discount. The terms of the cash discount are 2.5/15 net 85.

a. Compute the cost of not taking the cash discount. (Use 365 days in a year. Round intermediate calculations to 4 decimal places. Round the final answer to 2 decimal places.)

Cost of not taking a cash discount =

b. Should Chris borrow the funds?

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