9. Soenen Inc. had the following data for last year (in millions). The new CFO believes that the company could improve its working capital management sufficiently to bring its net working capital and to the benchmark companies' level without affecting either sales or the costs of goods sold. net working capital with a bank loan at an 8% annual interest rate, and it uses a 365-day year. I had been made, by how much would the firm's pre-tax income have increased? Do not round your intermediate cash conversion cycle up Soenen finances its f these changes calculations. Original Related CCC Benchmarks, CCC Sales Cost of goods sold Inventory (ICP) Receivables (DSO) Payables (PDP) Data $121,000 $80,000 $20,000 $16,000 $5,000 91.25 48.26 22.81 116.70 38.00 20.00 30.00 28.00 a. $1,683 b. $1,357 C. $1,520 d. $1,466 e. $1,809