Franklin Country Foundry has a total asset turnover rate of 1.10 and their profit margin is 9.40 percent. There are 102,546 in accounts receivable and assets total 1,230,526. How long on average does it take the firm to collect its receivables?
a. 13.20 days
b. 27.65 days
c. 52.81 days
d. 112.8 days
e. 388.2 days