Question: 1.3 Connect Exercises and Problems 1 15 points McGraw Hill Connect Deep Integration Question 1-1.3 Connect Exercises and Seved Help Save & Ex Problem

1.3 Connect Exercises and Problems 1 15 points McGraw Hill Connect Deep

1.3 Connect Exercises and Problems 1 15 points McGraw Hill Connect Deep Integration Question 1-1.3 Connect Exercises and Seved Help Save & Ex Problem 18-7 Factoring Receivables (LO3] Your firm has an average collection period of 21 days. Current practice is to factor all receivables immediately at a discount of 11 percent. Assume that default is extremely unlikely. What is the effective cost of borrowing? (Do not round intermediate calculations and enter your answer as a pecent rounded to 2 decimal places, e.g. 32.16.) Book Hint Print Effective cost of borrowing i eferences Chec

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