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A company has a collection period of 32 days and factors all receivables Immediately at a discount of 2.2 percent. What is the effective annual
A company has a collection period of 32 days and factors all receivables Immediately at a discount of 2.2 percent. What is the effective annual cost of borrowing? Assume 365 days per year. Multiple Choice 28.17 percent 0 25.66 percent 28.88 percent 25.04 percent 26.61 percent
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