ALei Industries has credit sales of $ 151

$151 million a year. ALei's management reviewed its credit policy and decided that it wants to maintain an average collection period of 40

40 days.

a.What is the maximum level of accounts receivable that ALei can carry and have a 40

40-day average collectionperiod?

b.IfALei's current accounts receivable collection period is 55 days, how much would it have to reduce its level of accounts receivable in order to achieve its goal of 40 days?

a.What is the maximum level of accounts receivable that ALei can carry and have a 40-day average collectionperiod?

The maximum level of accounts receivable will be $ million.(Round to one decimalplace.)