gfullillove1227 gfullillove1227 20-02-2024 Business contestada A company has a collection period of 35 days and factors all receivables immediately at a discount of 2.5 percent. What is the effective annual cost of borrowing? Assume 365 days per year. a. 29.37% b. 27.74% c. 26.74% d. 26.11% e. 30.22%
