can you please answer this question, thanks

Let us consider the accounts receivable situation for Heidman's Department Store. Heidman's uses two aging categories for its accounts receivable: (1) accounts that are classified as 0-30 days old, and (2) accounts that are classified as 31-90 days old. If any portion of an account balance exceeds 90 days, that portion is written off as a bad debt. Heidman's follows the procedure of aging the total balance in any customer's account according to the oldest unpaid bill. As the firm continues to operate into the future, we can consider each week as a trial of a Markov process with a dollar existing in one of the following states of the system: State 1. Paid category State 2. Bad debt category State 3. 0-30-day category State 4. 31-90-day category Using a Markov process model with the preceding states, we define the transition probabilities as follows: Pi = probability of a dollar in state i in one week moving to state j in the next week. In the Heidman's Department Store problem suppose that the following transition matrix is appropriate. [ 1.0 0.0 0.0 1.0 0.5 0.0 0.0 0.0 0.25 0.01 0.0 0.25 | 0.5 0.2 0.05 0.25 If Heidman's has $4,500 in the 0-30-day category and $5,000 in the 31-90-day category, what is your estimate of the amount of bad debts (in dollars) the company will experience? (Round your answer to two decimal places.) Need Help? Read It Let us consider the accounts receivable situation for Heidman's Department Store. Heidman's uses two aging categories for its accounts receivable: (1) accounts that are classified as 0-30 days old, and (2) accounts that are classified as 31-90 days old. If any portion of an account balance exceeds 90 days, that portion is written off as a bad debt. Heidman's follows the procedure of aging the total balance in any customer's account according to the oldest unpaid bill. As the firm continues to operate into the future, we can consider each week as a trial of a Markov process with a dollar existing in one of the following states of the system: State 1. Paid category State 2. Bad debt category State 3. 0-30-day category State 4. 31-90-day category Using a Markov process model with the preceding states, we define the transition probabilities as follows: Pi = probability of a dollar in state i in one week moving to state j in the next week. In the Heidman's Department Store problem suppose that the following transition matrix is appropriate. [ 1.0 0.0 0.0 1.0 0.5 0.0 0.0 0.0 0.25 0.01 0.0 0.25 | 0.5 0.2 0.05 0.25 If Heidman's has $4,500 in the 0-30-day category and $5,000 in the 31-90-day category, what is your estimate of the amount of bad debts (in dollars) the company will experience? (Round your answer to two decimal places.) Need Help? Read It