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4. XYZ Company receives only three checks each month, with details provided below. Assuming that the prevailing annual interest rate is 8.0%, what is the

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4. XYZ Company receives only three checks each month, with details provided below. Assuming that the prevailing annual interest rate is 8.0%, what is the annual cost of the check float that XYZ experiences? Remitter Amount Collection Float Pegasus Co. $700,000 3 days Buchepalus Inc 300,000 5 days Ionian Enterprises 500,000 4 days

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