Ithaca Iron has annual operating outlays of $1,800,000 and a cash conversion cycle of 60 days.If the firm currently pays 12 percent for negotiated financing and reduces its cash conversion cycle to 50 days,the annual savings is
A)$60,000.
B)$10,000.
C)$26,000.
D)$16,000.
E)none of above are correct

Question

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The Answer of Ithaca Iron has annual operating outlays of $1,800,000 and a cash conversion cycle of 60 days.If the firm currently pays 12 percent for negotiated financing and reduces its cash conversion cycle to 50 days,the annual savings is
A)$60,000.
B)$10,000.
C)$26,000.
D)$16,000.
E)none of above are correct

Ithaca Iron Has Annual Operating Outlays of $1,800,000 and a Cash