Terrible Toy Co. has a $500,000 receivable due in 270 days. A factoring firm has offered to purchase the receivable at a discount of 14% per annum, plus a flat charge of 2% of the gross receivable amount for a non-recourse clause. What is the annualized percentage all-in-cost (AIC) of this factoring alternative. Assume a 360-day year. A. 15.00% B. 17.22% C. 19.05% D. 20.37%