What is the firm effective cost of borrowing

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QT Stores has an average collection period of 28 days and factors all of its receivables immediately at a discount of 1.12 percent. What is the firm's effective cost of borrowing assuming all accounts are collected in full? 16.28 percent 15.81 percent 15.57 percent 16.33 percent 15.88 percent.

Reference no: EM132036601

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