Question: Madison Corner writes 29 checks a day for an average amount of $493 each. These checks generally clear the bank 2.75 days after they are

Madison Corner writes 29 checks a day for an average amount of $493 each. These checks generally clear the bank 2.75 days after they are written. In addition, the firm generally receives 66 checks with an average amount of $556 each. Deposited amounts are available after an average of 2.25 days. What is the amount of the firm's collection float?

Multiple Choice

$82,566

$43,249

$39,317

$36,696

$14,297

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