MoJo Corporation purchases goods on credit terms of 4.5/15, net 40. The cost of non-free trade credit for the 25-day period if the firm did not take discounts but did pay on the due date is:?
A. ?4.5%.
B. ?4.71%.
C. ?0%.
D. ?4.93%.
E. ?5.02%.
Answer: B
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