Allatoona Landing reported net credit sales of $1,250,000 and cost of goods sold of $900,000 for 2012. Its beginning balance of Accounts Receivable was $175,000. The accounts receivable balance decreased by $25,000 during 2012. Rounded to two decimal places, what is the company's accounts receivable turnover rate for 2012?
a. 11.03
b. 8.33
c. 7.14
d. 7.69