Place the following steps for developing a credit policy in the correct order of process: A: The company decides that it wants to minimize opportunity costs by having as much cash on hand as possible. B: The company decides that it will send out two notices of late payments to customers before pursuing other collection methods. C: The company decides that its payment terms will be Net 15. A, C, B C, B, A A, B, C C, A, B

Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%