1/ Massa Machine Tool expects total sales of $17,000. The price per unit is $6. The firm estimates an ordering cost of $9.96 per order, with an inventory cost of $.84 per unit. What is the optimum order size? (Round your answer to the nearest whole number.)

259 units

156 units

104 units

130 units

2/ Kantorovich Company normally takes 29 days to pay for its average daily credit purchases of $1,800. Its average daily sales are $2,800, and it collects accounts in 24 days. What is its net credit position? Note that a negative position implies receivables exceed payables.

($15,000)

$16,000

($17,000)

$15,000

3/ Mr. Jones borrows $2,200 for 90 days and pays $34 interest. What is his effective rate of interest? (Use 360 days in a year. Round your answer to 2 decimal places.)

10.88%

6.18%

6.72%

8.48%