6 7 8 9 10 11 12 13 4 5 5 David Dudes Ltd., has recently set up offices around Canada. One reason they did so was to speed up the company's cash collections. The company also makes its payments (disbursements) from these various office locations, so cheques written at these locations take longer to clear the bank. Collection time has been reduced by three days and disbursement time has been increased by two days because of these policies. Excess funds are being invested in short- term instruments yielding 4 percent per annum. a. Calculate how many dollars the cash management system has freed up if the firm has $4.40 million per day in collections and $3.40 million per day in disbursements? (include all calculations) nomnam can earn ner year in short-term 12 13 a. Calculate how many dollars the cash management system has freed up if the 14 firm has $4.40 million per day in collections and $3.40 million per day in 15 disbursements? (include all calculations) 16 17 18 19 20 1 2 b. Calculate how much interest the company can earn per year on short-term 3 investments made by the freed-up cash? (include all calculations) +