A Practice Sends $16,000 Worth of Account Balances to Both

Multiple Choice

A practice sends $16,000 worth of account balances to both Collection Agency A and Collection Agency B. Collection Agency A collects 25 percent of the balances and retains 20 percent of the amount it collects; Collection Agency B collects 40 percent of the balances and retains 50 percent of the amount it collects. Determine from which collection agency the practice will receive the most money.

A) Collection Agency A
B) Collection Agency B
C) The practice will receive the same amount of money from both collection agencies.
D) None of these are correct.