Question 11 (4 points) Quickcash Ltd fund working capital at a cost of 4% pa. They have an average trade debtors total of 1,800,000. They have been approached by a bank offering an invoice discounting facility. The facility is for a maximum drawdown of 2,000,000 and allows for an 80% advance rate on eligible invoices. The cost of the facility is a 27,000 pa fixed facility fee, and interest at 1.5%pa on drawn down amounts. For this offer to be a cost saving opportunity for Quickcash, what would be the minimum percentage of average trade debtors ruled as eligible for the facility? 46.875% 60% 67.5% 75%