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1 To manage accruals better, Alliance Rental will switch from paying its employees every week to paying employees every 2 weeks. Alliance has 23 employees

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To manage accruals better, Alliance Rental will switch from paying its employees every week to paying employees every 2 weeks. Alliance has 23 employees who work a 70-hour week and earn an average wage of $16.50 per hour. Using a 9% rate of interest, how much will this change save the firm annually? --- The annual savings in payroll from the change is $ (Round to the nearest dollar.)

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