collection period is 36 days. Assume all accounts are collected in full. What is the effective annual interest rate on this arrangement? Please show your work. A) 13.02 percent B) 13.68 percent C) 12.09 percent D) 11.78 percent E) 12.79 percent 8. The firm factors its accounts receivables immediately at a discount rate of 1.2 percent. The average collection period is 36 days. Assume all accounts are collected in full. What is the effective annual interest rate on this arrangement? Please show your work. A) 13.02 percent B) 13.68 percent C) 12.09 percent D) 11.78 percent E) 12.79 percent