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8. The Lawrence Stone-Age Pottery Co. receives 60 cheques per month from customers. Average payments and clearing times are as follows: five cheques for $21,000,
8. The Lawrence Stone-Age Pottery Co. receives 60 cheques per month from customers. Average payments and clearing times are as follows: five cheques for $21,000, two days; 15 cheques for $58,000, three days; 25 cheques for $37,000, four days; and fifteen cheques for $10,000, five days. Calculate the average daily float, assuming a 360-day year
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