Business

Kailey Swanson

25 June, 03:17

A firm has an average collection period of 37 days and factors all of its receivables immediately at a discount of. 98 percent. Assume all accounts are collected in full. What is the firm's effective cost of borrowing? 10.20 percent 10.38 percent 10.13 percent 9.98 percent 10.24 percent

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