1. A company has 5 remittances for the typical month as listed below. Assume the typical month has 30 days. The days of mail float and availability float for each remittance are also shown. Processing float is negligible.

Remittance	Mail float	Availability float
$100,000	2	1
5,000	7	2
300,000	1	1
10,000	5	1
150,000	4	2

1. Calculate the total-dollar-day float for the month.
2. Calculate the average dollar-day float.
3. Calculate the average collection float in days.
4. If the annual opportunity rate is 4%, calculate the annual cost of float.