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Question - Slow Roll Drum Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $450,000 in additional credit sales, 10 percent are likely to be uncollectible. The company will also incur $17,600 in additional collection expense. Production and marketing costs represent 78 percent of sales. The firm is in a 25 percent tax bracket. No other asset buildup will be required to service the new customers. The firm has a 8 percent desired return. Assume the average collection period is 90 days.
a. Compute the return on incremental investment.
b. Should credit be extended to the new group of customers?
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