(en) m - Part 2 (April 26, 10:45 AM to 12:15 PM) f Cost of Factoring Tara Inc. sold CAD 750,000 in 120-day accounts receivable to a factor who advanced 85.0% of their value. A factoring fee of 1.75% was charged along with interest of 5.8% per annum. The annual effective cost of borrowing using factoring is closest to: on Select one: O a. 10.61%. O b. 11.54%. O c. 12.56%. Next page 6 | | | | We 6 7 8 9 0 2 V2 T Y P H JK