gfullillove1227 gfullillove1227

20-02-2024
Business

contestada

A company has a collection period of 35 days and factors all receivables immediately at a discount of 2.5 percent. What is the effective annual cost of borrowing? Assume 365 days per year.
a. 29.37%
b. 27.74%
c. 26.74%
d. 26.11%
e. 30.22%

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