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Assuming all sales are collected, what is the approximate effective cost of factoring if receivables are sold at a 9.30% discount and the average collection
Assuming all sales are collected, what is the approximate effective cost of factoring if receivables are sold at a 9.30% discount and the average collection period is 5 months?
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a.62.92%
b.26.40%
c.23.79%
d.36.96%
e.20.31%
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