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4. Brendan Ltd has annual sales of $200 million with a cost of goods sold of $150 million They keep an average inventory of $60million

4. Brendan Ltd has annual sales of $200 million with a cost of goods sold of $150 million They keep an average inventory of $60million . On average , the firm has accounts receivable of $50 million . The firm buys all raw materials on credit , its trade credit terms are net 30 days and it pays on time . The firm buys all raw materials on credit , its trade credit terms are net 30 days and it pays on time The firms managers are searching foe ways to shorten the cash conversion cycle . If sales can be maintained at existing levels but inventory can be lowered by $15 million and accounts receivable can be lowered by $20 million , what will be the net change in the cash conversion cycle?(Use a 360-day year)

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