During a normal month, Hank's receives a total of nine checks with a total value of $148,500.On average, it takes 1 day from the date of deposit for the funds from these checks to be available to the firm.Assume each month has 30 days.What is the average daily float?
A) $4,950
B) $44,800
C) $22,400
D) $112,000
E) $89,600
Correct Answer:
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