$2.$ Cash conversion cycleCash management is a very important function of managers.

Companies need to manage their operations in a way that they can

sustain growth and yet not run out of cash.Consider the case of the Red Hamster Manufacturing

Corporation:Red Hamster Manufacturing Corporation has forecasted sales of

$$29,000,000$ for next year and expects its cost of goods sold $($COGS$)$

to remain at $60\%$ of sales. Currently, the firm holds $$3,200,000$ in

inventories, $$2,200,000$ in accounts receivable, and $$2,700,000$ in

accounts payable.Approximately how long does it take Red Hamster Manufacturing to

convert its raw materials to its finished products and then to sell

those goods? $($Note: In all calculations, assume that there are $365$

days in a year.$)63\mathrm{.}77$ days$67\mathrm{.}13$ days$46\mathrm{.}99$ days$53\mathrm{.}70$ days