Heritage Farms has sales of $1.62 million with costs of goods sold equal to 78 percent of sales. The average inventory is $369,000, accounts payable average $438,000, and receivables average $147,000. How long is the cash cycle?

a, 13.30 days

b, 13.19 days

c, 17.29 days

d, 7.54 days

e, 11.77 days