Trell Corporation transferred $52,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 60% of the factored amount to Trell and retains the remaining 40%. When the bank collects the receivables, it will remit to Trell the retained amount less a fee equal to 1% of the total amount factored. Trell estimates a fair value of its 15% interest in the receivables of $9,000 (not including the 1% fee). Trell will show an amount receivable from factor of: Multiple Choice $20,800 $20,280. $9,000 $8,480