Rose Axels faces a smooth annual demand for cash of $5,000,000, incurs transaction costs of $275 every
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Rose Axels faces a smooth annual demand for cash of $5,000,000, incurs transaction costs of $275 every time they sell marketable securities, and can earn 4.3 percent on their marketable securities. What will be their optimal cash replenishment level?
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Related Book For 
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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