Your fiRm Generally Receives 3 Cheques a Month

Your firm generally receives 3 cheques a month. The cheque amounts and the collection delay for each cheque are shown below. Given this information, what is the amount of the average daily
float? Assume that a month has 30 days.

A) $705.56
B) $934.00
C) $3,113.33
D) $7,783.33
E) $8,466.67