$(2$ points$)$ A company factors $$300,000$ of accounts receivable on a with recourse basis. The fair value

of the recourse provision is $$11,000.$ The factor assesses $4\%$ of the receivables as a finance charge

and the company receives $$267,000$ cash in the initial transaction. What percentage of the receivables

did the factor retain to cover possible future sales discounts, returns, and allowances?