The Delta Fish Hatchery Factors Its Accounts Receivables Immediately at a 2

question 90

Multiple Choice

The Delta Fish Hatchery factors its accounts receivables immediately at a 2 percent discount.The average collection period is 34 days.Assume that all accounts are collected in full.What is the effective annual interest rate on this arrangement?

• A)24.22 percent
• B)25.20 percent
• C)25.36 percent
• D)25.78 percent
• E)26.04 percent

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