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ABC Corp factors $586,905 of accounts receivable with a financing company on a 'with recourse' basis. The financing company will collect the receivables. The receivable records are transferred to the financing company, which assesses a finance charge of 1.61% of the amount of accounts receivable and also reserves an amount equal to 4.31% of accounts receivable to cover probable adjustments. Financial statements are prepared under ASPE. Assuming that the recourse obligation has a fair value of $6,027, what will be the net cash proceeds collected at the time of sale of the receivables? O a. $552,160 O b. $496,944 O c. $538,356 O d. $524,552 O e. $510,748