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A company has a collection period of 36 days and factors all receivables immediately at a discount of 26 percent. What is the effective annual

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A company has a collection period of 36 days and factors all receivables immediately at a discount of 26 percent. What is the effective annual cost of borrowing? Assume 365 days per year. Multiple Choice ( 2706 percent 30.62 percent 29.72 percent 26.42 percent 28.07 percent

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