Wontaby Ltd. is extending its credit terms from 45 to 60 days. Sales are expected to increase from $477 million to $5.87 milli result. Wontaby finances short-term assets at the bank at a cost of 12 percent annually. Calculate the additional annual financir of this change in credit terms. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to t nearest whole dollar. Enter answer in whole dollar not in million.) Annual financing cost $ 45,222 Explanation Average accounts receivable = Annual sales Average days outstanding / 365 Average accounts receivable (new) = $5,870, eee x 60 / 365 = $964,932 Average accounts receivable (old) - $4,770,000 45/ 365 = $588,882