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Cost of trade credit: Mill Street Corporation sells its goods with terms of 4/10 EOM, net 60. What is the implicit cost of the trade credit?

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Briefing Paper: The China toll: Growing trade deficit with China cost more than million jobs between 2001 and 2011, with job losses in every state.

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148 Cost of trade credit Mill Street Corporation sells its goods with terms of 4/10 EOM, net 60. What is the implicit cost of the trade credit?
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