Question: Suppose you mail a check each month for $ 1 , 0 0 0 and it takes 3 days toreach its destination, 1 day to

Suppose you mail a check each month for $1,000 and it takes 3 days toreach its destination, 1 day to process, and 1 day before the bankmakes the cash available. What is the average daily float (assuming 30 days per month)?

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