Table:
| ($ in millions) |  |  |  |  |
| --- | --- | --- | --- | --- |
| At December 31, 2019: | Investment in Sales-Type and Direct Financing Leases | Commercial Financing Receivables | Client Loan and Installment Payment Receivables/ (Loans) | Total |
| Financing receivables, gross | $6,077 | $3,836 | $13,592 | $23,504 |
| Unearned income | (509) | (4) | (570) | (1,083) |
| Recorded investment | $5,567 | $3,831 | $13,022 | $22,421 |
| Allowance for credit losses | (72) | (11) | (138) | (221) |
| Unguaranteed residual value | 652 | — | — | 652 |
| Guaranteed residual value | 53 | — | — | 53 |
| Total financing receivables, net | $6,199 | $3,820 | $12,884 | $22,904 |
| Current portion | $2,334 | $3,820 | $ 8,037 | $14,192 |
| Noncurrent portion | $3,865 | $      — | $ 4,847 | $ 8,712 |
Paragraphs:
Financing receivables primarily consist of client loan and installment payment receivables (loans), investment in sales-type and direct financing leases, and commercial financing receivables. Client loan and installment payment receivables (loans) are provided primarily to clients to finance the purchase of hardware, software and services.
Payment terms on these financing arrangements are generally for terms up to seven years. Client loans and installment payment financing contracts are priced independently at competitive market rates. Investment in sales-type and direct financing leases relates principally to the company’s Systems products and are for terms ranging generally from two to six years.
Commercial financing receivables relate primarily to inventory and accounts receivable financing for dealers and remarketers of IBM and OEM products. Payment terms for inventory and accounts receivable financing generally range from 30 to 90 days.
Question:
What is the average of Total financing receivables, net?
Answer: (6199+3820+12884) / 3 = 7634.33