Selected financial statement numbers for Frederick Company are given below:

Sales	$277,480
Cost of goods sold	179,155
Average accounts receivable	20,730
Average inventory	4,145
Average property, plant, and equipment	75,705

Using the information above, calculate Frederick's average collection period (round to two decimal places).

• 99.46 days
• 27.26 days
• 42.25 days
• 5.45 days