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Mate's has an average collection period of 34 days Current practice is to factor all receivables imediately at a discount rate of 1.8 percent. Assume

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Mate's has an average collection period of 34 days Current practice is to factor all receivables imediately at a discount rate of 1.8 percent. Assume that dette extremely unlikely. What is the effective cost of borrowing! Multiple Choice 18,79 percent TF 7 percent O 20.97 percent 2:53 percent

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