Viale Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15,net 50.If the firm chooses to pay on time but does not take the discount,what is the effective annual cost of its trade credit? (Assume a 365-day year.)

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The Answer of Viale Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15,net 50.If the firm chooses to pay on time but does not take the discount,what is the effective annual cost of its trade credit? (Assume a 365-day year.)

Viale Enterprises Purchases $4,562,500 in Goods Per Year from Its