Time Outstanding	$ Amount	Fraction expected to be uncollectible
Less than 30 days	$34,100	1%
31-60 days	3,400	2%
61-90 days	7,400	6%
91-120 days	1,800	25%
121+ days	1,200	40%

Weston Company plans to factor $11,000 of the receivables outstanding for less than 30 days with recourse for a fee of 3% of the receivables sold. What is the total cost of obtaining the cash through this factoring arrangement?

Group of answer choices

$220

$330

$440

$110