Problem Walk-Through CASH CONVERSION CYCLE Parramore Corp has $15 million of sales, 1 million of Inventories, $3 milion of receivables, and $2 million of payables, Its cost of goods sold is 80% of sales, and it finances working capital with bank loans at an 7% rate. Assume 365 days in year for your calculations. Do not round Intermediate steps 1. What is Parramore's cash conversion cyde (cccy Do not round Intermediate cateutation. Hound your answer to two decimal places. days 2. Het Borromers. could comers Inventories and receivables by 11% ench and increase its payables by 11%, all without necting sales or cort er goods sold, what would be the new CCC? not round Intermediate your answer days 3. How much cash would be treed up af Parramore could lower its inventories and receivables by 11% each and increase its payables by 11% without affecting sales or cost of goods solo Do not round intermediate calculations. Round your answer to the nearest cent. Write out your answer completely. For example, 13.2 million should be entered a 13,200,000. 4. Wy how much would pretax profits change, If Parramore could lower its inventories and receivables by 11% each and increase its payable by 11%, all without affecting Sales or cost of goods sold Do not round intermediate calculations. Round your answer to the nearest cent Write out your answer completely. For example, 13.2 million should be entered 13,200,000