During a normal month,Florence Lumber receives a total of eight checks with a total value of $576,000.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) $19,200
B) $273,000
C) $576,000
D) 8,190,000
E) $17,280,000
Correct Answer:
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