$16-1$ CASH CONVERSION CYCLE Parramore Corp has $$12$ million of sales,$$3$ million of inventories, $$3\mathrm{.}25$ million of receivables, and $$1\mathrm{.}25$ million of payables. Its cost of goods sold is $75\%$ of sales, and it finances working capital with bank loans at an $8\%$ rate. What is Parramore$$s cash conversion cycle $($CCC$)?$ If Parramore could lower its inventories and receivables by$10\%$ each and increase its payables by $10\%,$ all without affecting sales or cost of goods sold, what would be the new CCC$,$ how much cash would be freed up$,$ and how would that affect pretax profits?