Using the data below, estimate the hospital's average collection period (ACP). (Hint: Assume that the average age in the first category is 15 days [the midpoint of the range[], the average age in the 2nd category is 45 day, and so on. Ignore the receivables over 120 days.)

Age of Account (Days) Value of Account (in thousands) Percentage of Total Value

0-30 5,450 .48187

31-60 3,666 .32414

61-90 867 .11300

91-120 49 .00433

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11,310 .1