Problemtaylor inc buys on terms of 112 net 59 days it does, Ask an Expert

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Taylor Inc. buys on terms of 1/12, net 59 days. It does not take discounts, and it typically pays on time, 59 days after the invoice date. Net purchases amount to $550,000 per year. On average,

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Question: What is the dollar amount of costly trade credit the firm receives during the year? Assume a 365 day year

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