Franklin County 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. The 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