8. One of your clients, Edinburgh Inc, is analysing the performance of its cash management department. The firm has inventory that turns 7.2 times per year, an average payment period of 40 days, and an average collection period of 60 days. The firm's total annual outlays are 2,500,000. (Assume a 365-day year) H a. Calculate the firm's operating and cash conversion cycles. (4 marks)