Once Upon a Credit offers retail store credit card programs to its customers. It has an ongoing practice of factoring its receivables to maximize cash on hand so that it can keep expanding its credit program to its customers. Assuming that their factoring is all done on a without recourse basis, which option provides the most cash immediately on a $300,000 receivable.

i. Finance Charge 2% and Holdback of 4%

ii. Finance Charge 4% and Holdback of 5%

iii. Finance Charge 5% and Holdback of 2%

iv. Finance Charge 5% and Holdback of 5%