Durkin cement purchases on terms of 215 net 30 days. it, Ask an Expert

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Durkin Cement buys on terms of 2/15, net 30 days. It does not take discounts and it typically pays 68 days after the invoice date. Net purchases amount to $720,000 per year. What is the nominal annual cost of its non-free trade credit assuming a 365 day year.

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