Question: The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000, two days; $3,000, five days;

The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000, two days; $3,000, five days; $8,000, three days, and $7,000, four days. Assume a 360-day year. What is the average daily float?

Select one: A. $1,921 B. $2,629 C. $2,033 D. $1,933 E. $2,900

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