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| Maple Motors buys axles in order to produce automobiles. Maple carries an average credit balance of $25,000,000 with its axle supplier. The axle supplier provides credit terms of 1/10 net 25. The nominal annual cost of Maple not taking the trade discount is closest to which one of the following?? Assume a 360-day year. A. 14.4% B. 14.5% C. 24.0% D. 24.2% |