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15-9 Astro Turf Gardening's (ATG) disbursement float currently is three (3) days. ATG can increase its disbursement float to five (5) days by paying its

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15-9 Astro Turf Gardening's (ATG) disbursement float currently is three (3) days. ATG can increase its disbursement float to five (5) days by paying its raw material suppliers from accounts maintained at banks located in different Federal Reserve districts than the suppliers' banks. ATG averages payments equal to $300,000 each day. If its opportunity cost is 15 percent, how much would ATG save each year by paying suppliers using accounts at more distant banks? (LO 15-2)

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