I need help with the following homework questions:

1) Currently your firm has an average collection period of 67 days and your have been asked to analyze offering a 1/10 net 30 discount to expedite collections. You expect a decrease in the ACP of 9 days (the new ACP would be 58 days). 40% of the customers are expected to take the discount. The current accounts receivable balance is 3.35 million. Sales levels and bad debt expenses are expected to remain constant. Using a 365 day year for your calculations, if the required rate of return on receivables is 14%, what is the expected change in pretax profit?

a. A gain of about $10,000 b. A loss of more than $15,000 c. A loss of about $10,000 d. A gain of more than $15,000

2) Given the following information, calculate the firm's annual cost of resources in accounts receivable: ACP = 24.1 days Annual Sales = $350,000 Variable cost ratio of 47% Required return = 13%

a. $3,004.25 b. $1,412.00 c. $12,784.03 d. $6,392.01 e. $10,861.51