24. Assume a firm has a cash cycle of 40 days and an operating cycle of 67 days. What is its average payment period?

25. Assume a firm has a cash cycle of 77 days and an operating cycle of 135 days. What is its payables turnover? (Use 365 days a year. Round your answer to 2 decimal places.)

Payable's turnover will be 365 days/58 days = 6.29 times

28. Calculating Fees on a Loan Commitment You have approached your local bank for a start-up loan commitment for $1,300,000 needed to open an auto repair store. You have requested that the term of the loan be one-year. Your bank has offered you the following terms: size of loan commitment = $1,300,000, term = 1 year, up-front fee = 15 basis points, back-end fee = 30 basis points. If you take down 90 percent of the total loan commitment, calculate the total fees you have paid on this loan commitment.