1. The following information relates to Rodeo Corporation.
2. Current assets$70,000
3. Current liabilities$52,500
4. Long-term assets$210,000
5. Long-term liabilities$140,000
6. Based on this information, the amount of the current assets financed by the long-term liabilities is:
7. a.$12,500.
8. b.$17,500.
9. c.$52,500.
10. d.$70,000
11. .e.$102,500.

Grant Technologies is planning to get a 210-day $300,000 simple interest loan from its bank with a quoted interest rate of 11 percent and a 20% compensating balance requirement. Assuming there are 360 days in a year and Grant currently holds no funds at the lending bank, what is the annual percentage rate (APR) of the loan? (Round your answer to two decimal places.)

a.12.55%

b.12.85%

c.13.35%

d.13.05%

e.13.75%

The following information relates to Musk Corporation.

Inventory conversion period15 days

Closing inventory$28,000

Assuming there are 360 days in a year, what is the company's total cost of goods sold during the year? (Round your answer to two decimal places.)

a.$580,000

b.$475,000

c.$550,000

d.$750,000

e.$672,000