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Calculate both the approximate and effective annual cost

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    Assignment ID: FG133136218

    Question – Calculate both the approximate and effective annual cost of foregoing the cash discount for each of the following suppliers of NUE Corp: Supplier LION 2/10 n/40 Assuming NUE Corp needs short-term financing, recommend whether it would be better to give up the cash discount or take the discount and borrow from a bank at 20% annual interest. Use 365 days per year.

    A. Give up the discount.

    B. Take the discount and borrow.

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