Trade terms of Swift plc requires settlements by the end of the month following delivery. Customers, however, take an average of 60 days to settle their bills. Total sales for the year amount to 25 million, 20% of these are cash sales. The firm suffers bad debts of 310,000 per year. If Swift plc offers a discount of 2% of the face value of the invoice for payment within 30 days, 30% of its customers would take the discount but the average time taken by remaining customers would not change. Bad debts will fall by 100,000 per year and total sales are unchanged. Working capital is financed by an overdraft at 10 percent per year (assume a 365 day year).

The current level of accounts receivables (debtors) is closest to:

A: 2,794,521 B:2,344,587 C:3,287,671 D:2,973,810