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This year your company has $34 million of credit sales and average receivables of $7 million. Your company factor receivables by discounting 1%. What

This year your company has $34 million of credit sales and average receivables of $7 million. Your company

This year your company has $34 million of credit sales and average receivables of $7 million. Your company factor receivables by discounting 1%. What is the APR of factoring the receivables?

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