The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000, two days; $3,000, five days; $8,000, three days, and $7,000, four days.
Assume a 360-day year.
What is the average daily float?
A) $1,921
B) $1,933
C) $2,033
D) $2,629
E) $2,900
Correct Answer:
Verified
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