4. Your boss has asked you to take a closer look at your companys credit policies. You have been given the following information:

Accounts receivable balance:	$560,000
Average daily sales:	$12,342
Weighted average cost of capital:	10%

a) Your firms DSO is: ______________

b) Taggart Transcontinental Corp.s CFO is unhappy with its DSO and wants to improve collections next year. Sales are expected to grow by 12% next year, and the CFO wants to lower the DSO to the industry average of 30 days. As a result, the firm should expect to carry _______________ in accounts receivable