Here are next year's projections for a firm you are valuing:

Sales are expected to be $100 million. Gross margin is forecasted to be 30%. COGS and SG&A are $90 million, of which depreciation is $10 million. The firm is very inefficient in collecting its bills from customers. It is expected that: Industrial customers (70% of sales) will take 100 days to pay their bills. Retail chains (30% of sales) make cash sales.

The firm expects to turn over its inventory every 60 days. The firm's suppliers are, understandably, wary of extending long credit to the firm. So the firm will be forced to pay its bills in 20 days.

Using the information provided above,

Next years inventory is projected to be: (Choose the closest answer). [ Select ] ["$11.50 million", "$4.93 million", "$16.44 million", "$23.61 milion", "$13.15 million"]

What should be the average collection period (days) and next years account receivables? Choose the closest answer

. [ Select ] ["70 and $27.40 million", "70 and $19.18 million", "100 and $27.40 million", "110 and $27.40 milion", "100 and $19.18 million"]