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Assume the following facts about a firm that borrows by pledging its receivables: What is the effective cost of financing stated as an annual rate?

Assume the following facts about a firm that borrows by pledging its receivables:

What is the effective cost of financing stated as an annual rate?

2. Assume the following facts about a firm that borrows by pledging its receivables: What is the effective cost of financing stated as an annual rate? a. 23.5% b. 13% c. 13.5% d. 16.83%

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