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Ocala Clinic's services result in $25,000 in daily billings to third-party payers. On average, it takes the clinic 45 days to collect its receivables....

  • Ocala Clinic's services result in $25,000 in daily billings to third-party payers. On average, it takes the clinic 45 days to collect its receivables. If the interest rate on loans needed to finance receivables (cost of carrying receivables) is 8 percent, what is the clinic's dollar annual cost of financing its receivables balance? A. $25,000
  •  B. $80,000
  •  C. $90,000
  •  D. $65,000
  •  E. $105,000

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