Accounts receivable as collateral, cost of borrowing Maximum Bank has analyzed the accounts receivable of Scientific Software, Inc. The bank has chosen eight accounts totaling $150,000 that it will accept as collateral. The bank's terms include a lending rate set at prime + 2% and a 1.5% commission charge. The prime rate currently is 8%. a. The bank will adjust the accounts by 10% for returns and allowances. It then will lend up to 85% of the adjusted acceptable collateral. What is the maximum amount that the bank will lend to Scientific Software? b. What is Scientific Software's effective annual rate of interest if it borrows $110,000 for 12 months? For 6 months? For 3 months? a. The maximum amount that the bank will lend to Scientific Software is $ ____. (Round to the nearest dollar.)