9 10 points ellook Print References Problem 8-27 Accounts receivable financing [LO8-1] Charming Paper Company sells to the 12 accounts listed here. Average Age of the Account Account Over the Last Year Receivable Balance Outstanding $ 69,500 205,000 78,900 A 21 43 11 20,500 59 56,400 43 F 301,000 35 38,900 22 H 333,000 68 44,500 34 98,300 50 292,000 17 68,500 37 Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, 80 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 9.50 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could qualify. Maximum loan amount B C D E ANSERER 08,300 50 17 292,000 68,500 Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, 80 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. Book The current prime rate is 9.50 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate. Kt a. Determine the maximum loan for which Charming Paper Company could qualify. Maximum loan amount incr b. Determine how much one month's interest expense would be on the loan balance determined in part a. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Interest expense