7. Grand Beauty Ltd. has an inventory turnover rate of 14, a payables turnover rate of 8, and a receivables turnover rate of 19. How long is the firm's operating cycle? A. 45.06 days B. 45.28 days C. 45.63 days D. 53.13 days 8. IJK Ltd. is considering a project that will require the purchase of $980,000 in new equipment. The equipment will be depreciated straight-line to a zero book value over the 7-year life of the project. The equipment can be scraped at the end of the project for 5 percent of its original cost. Annual sales from this project are estimated at $420,000. Net working capital equal to 20% of sales will be required to support the project. All of the net working capital will be recouped. The required return is 16% and the tax rate is 35%. What is the amount of the aftertax salvage value of the equipment? A. $17,150 B. $31,850 C. $118,800 D. $237,600