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1. Assume the following facts about a firm that borrows by pledging its receivables What is the effective cost of financing stated as an annual

1.
Assume the following facts about a firm that borrows by pledging its receivables
What is the effective cost of financing stated as an annual rate?
a.
23.5%
b.
20.0%
C.
13.0%
d.
16.8%
image text in transcribed
Assume the following facts about a firm that borrows by pledging its receivables What is the effective cost of financing stated as an annual rate? a. 23.5% b. 20.0% c. 13.0% d. 16.8%

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