Required information The following information applies to the questions displayed below] The auditors of Landi Corporation wish to use a structured approach to nonstatistical sampling to evaluate the reasonableness of the accounts receivable. Landi has 13,300 receivable accounts with a total book value of $2,465,000. The auditors have assessed the combined level of inherent and control risk at a moderate level and believe that their other substantive procedures are so limited as to require a "maximum" risk assessment. After considering the overall audit plan, the auditors believe that the test's tolerable misstatement is $57,000. Use Figure 9-13 to determine the reliability factor. Assuming the following results: Number of items in sample Total audited value of sample items Total book value of sample items 100 $18,400 $19,100 b-1. Use the ratio estimation method to calculate the projected misstatement of the population. (Do not round any division. Round your final answer to 2 decimal places.) Projected misstatement b-2. Use the difference estimation method to calculate the projected misstatement of the population. Projected misstatement FIGURE 9.13 Reliability Factors for Nonstatistical Sampling Plan Risk That Other Substantive Procedures (e.g., Analytical Procedures) Will Fail to Detect a Material Misstatement Combined Assessment of Inherent and Control Risk Maximum Slightly below maximum Moderate Low Maximum 3.0 2.7 2.3 1.9 Moderate 2.3 2.0 1.6 1.2 Low 1.9 1.6 1.2 1.0 Note: This table is applicable when the auditors expect few misstatements in the population