Lancaster Wine Inc. receives an average of$17,000in cheques per day. The delay in clearing is typically 3
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Question:
a. What is the company's collection float?
b. What is the most Lancaster should be willing to pay today to eliminate its float entirely?
c. What is the highest daily fee the company should be willing to pay to eliminate its float entirely?
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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