Remittance	Mail Float	Processing Float	Availabitly Float	Dollar-days of float
$500,000.00	5	1	2	$4,000,000.00
$100,000.00	2	2	1	$500,000.00
$50,000.00	5	1	2	$400,000.00
$1,000,000.00	3	0.5	0	$3,500,000.00
$25,000.00	1	2	2	$125,000.00
$1,675,000.00				$8,525,000.00
a) Calculate the total dollar-day float for the month
b) Calculate the average daily collection float
c) If the annual opportunity cost of funds is 5%, calculate the annual cost of float