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(A) De la Mare Company has $140,000 in accounts receivable that will be collected within 75 days. Since de la Mare needs cash immediately, it

(A) De la Mare Company has $140,000 in accounts receivable that will be collected within 75 days. Since de la Mare needs cash immediately, it has decided to factor them and has received $130,000.

Find the cost of this loan for de la Mare.

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