Barans company currently has an average collection period, Financial Management

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Barans company currently has an average collection period

Barans Company currently has an average collection period of 55 days and annual sales of $1 billion. Assume a 365-day year.

a. What is the firm's average accounts receivable balance?

b. if the variable cost of each product is 65% of sales, what is the average investment in accounts receivable ?

c. if the equal-risk opportunity cost of the investment in accounts receivable is 12%, what is the total annual cost of the resources invested in accounts receivable?

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