Your firm is expected to have $15,000,000 in sales next year and its cost of capital is 13.5%.How many days of float will a lockbox system have to save you in order to pay for a system that will cost your firm $27,740 per year?
A) 2 days
B) 3 days
C) 4 days
D) 5 days
Correct Answer:
Verified
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