E8-16 analyzing and interpreting receivables turnover ratio and days to collect [lo 8-4] shipit corporation reported the following rounded amounts (in millions): 2016 2015 accounts receivable $ 5,315 $ 5,020 allowance for doubtful accounts (245 ) (250 ) accounts receivable, net of allowance $ 5,070 $ 4,770 net sales (assume all on credit) $ 47,500 $ 46,200 required: determine the receivables turnover ratio and days to collect for 2016. (use 365 days in a year. do not round intermediate calculations. round your final answers to 1 decimal place.)