Question: please show steps ( dont use excel ) A firm has estimated that it will need $ 3 . 3 million net cash during the

please show steps (dont use excel)
A firm has estimated that it will need $3.3 million net cash during the year. Current interest rate on money market securities is 3.40% per year and the cost of buying and selling securities is $28.10 per transaction. What is the optimal transaction size of securities?
a.
$56,812
b.
$13,848
c.
$13,393
d.
$52,224
e.
$73,856
The answer is not d

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