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Frampart has annual credit sales of $825,000, and its customers pay, on average, after 60 days. In order to encourage speedier remittances, it is decided to offer a 6% discount to those paying within 30 days. Frampart's working capital is financed at a cost of 20%. If all of Frampart's customers took the discount, calculate the annual cash effect of the discount policy, assuming a 360-day year. (Use a minus sign before any decrease in cash) $________ |