It Takes Your Firm 3 Days to Prepare and Mail

It takes your firm 3 days to prepare and mail out the monthly statements to your customers. On average, the mail time between your firm and your customers is 2.5 days. It takes your firm an average of 1.5 days to process customer payments once they are received. Customer cheques take an average of 1 day to clear the bank. What is your total collection time?

A) 2.5 days
B) 4.0 days
C) 5.0 days
D) 6.5 days
E) 8.0 days