Answer the given problems. Use 360 days in a year.

Problem B: Disbursement Float ABC disburses P100,000 each day. It would like to issue checks instead of its current policy of paying in cash. Opening a disbursement account will cost P500 outright but another P400 per month will be incurred for the checkbook. The disbursement float will be 7 days based on expert advice. The return on money marketable securities is 5%. Required: 3. Disbursement float in pesos if the entity issues checks 4. Annual return on the disbursement float 5. Cost of the checking account for the first year 6. Net Advantage or (Disadvantage) of opening the disbursement account