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A company has revenue collections that are estimated to be as follows: 40% of sales...

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Finance

A company has revenue collections that are estimated to be as follows: 40% of sales are for cash, 10% are collected one month after the sale, 45% are collected two months after the sale, and 5% are bad debts. If Januarys sales are $10 million, what percent of January's sales is collected by the end of March? (Enter your answer as a percentage, rounded to two digits after the decimal point. Example: An answer of 0.124589 would be rounded to 12.46%, and entered as 12.46).

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