Custom Granite Inc

question 37

Multiple Choice

Custom Granite Inc. has a Canadian receivables contract for $200,000 due in 270 days. The firm has been approached by a factoring firm that offers to purchase the receivables at a 12% per annum discount plus a 1% charge for a nonrecourse clause. What is the annualized percentage all-in-cost of this factoring alternative?

• A)14.82%
• B)13.00%
• C)12.00%
• D)9.09%

---

Definitions:

Mind

The element of a person that enables them to be aware of the world and their experiences, to think, and to feel.

Structuralism

An early school of psychology that aimed to understand the structure of the mind by breaking down mental processes into their most basic components.

E. B. Titchener

A psychologist known for founding structuralism, focusing on breaking down mental processes into the most basic components.

Wilhelm Wundt

A German psychologist who is often regarded as the father of experimental psychology, he established the first psychology laboratory at the University of Leipzig in 1879.