the effective annual rate the firm will pay for financing with commercial paper. DU,IL) Was pald rom the initial proceeds. Calculate Accounts receivable as collateral Kansas City Castings (KCC) is attempting to ob- tain the maximum loan possible using accounts receivable as collateral. The firm ex tends net-30-day credit. The amounts that are owed KCC by its 12 credit customers, the average age of each account, and the customer's average payment period are as shown in the following table. Accounts receivable $37,000 42,000 15,000 8,000 50,000 12,000 24,000 46,000 3,000 22,000 62,000 80,000 Average age of Average payment period of customer Customer account 40 days 25 40 30 31 28 30 29 30 25 35 30 days 50 60 35 40 30 70 40 65 35 40 70