Nultiple changes in cash corversion cycle. Garrett Industries turns over its inventory 6 times each year, it has an average collection period of 45 days and an average payment period of 37 days. The frrm's annual sales are $2.6million. Assume there is no difference in the investment per dollar of sales in inventory, receivables, and payables, and a 365 -day year. a. Calculate the firm's cash conversion cycle, its daily cash operating expenditure, and the amount of resources needed to support is cash conversion cycle. b. Find the Inrin's cash conversion cycle and rescuice investment requirement if it makes the following changes simulanecusiy. (1) Shorens the average age of inventory by 5 days. (2) 5 peeds the collection of accounts recelvable by an average of 9 days. (3) Fxtends the averyge puyment period by 8 days. c. It the firm pays 13% for its resource invostment, by how much. If anything. could it increase its annual peoft as a resutt of the changes in part b? d. It the anenal cost of achieving the profit in part c is $33.000, what action would you recornmend to the firm? Why? a. The finsis cath correnion cyce, ecc, is days (Round to the nearest whole day)