A retailer ordered merchandise totaling $127,115.23 with terms  3.5% 10  net 40. What is the effective rate of return? (Simplify your answer completely. Assume there are 365 days in a year. Round your answer to one decimal place.)

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...
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A retailer ordered merchandise totaling $127,115.23 with terms 

3.5%
10

 net 40. What is the effective rate of return? (Simplify your answer completely. Assume there are 365 days in a year. Round your answer to one decimal place.)

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