Reference no: EM132907547
Rebecca Co. has the following selected information from its most recent annual financial statements:
20X8 $ 20X7 $
Accounts receivable 223,400 226,700
Inventories 121,700 151,600
Accounts payable 177,400 153,900
Sales (all on credit) 779,800 798,300
Cost of goods sold 350,910 359,235
Operating expenses 77,400 78,900
- Operating expenses include depreciation and amortization of $10,500 in 20X8 and $10,100 in 20X7. The company pays 8% annual interest on borrowings from its bank.
Problem 1: What is the interest cost on the cash required to finance the company's estimated cash conversion cycle in 20X8? (For calculations, use 365 days in a year and round all calculations to the nearest day.)
a) $17,433
b) $18,117
c) $22,221
d) $12,819
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