A company has contracted with their bank to do a collection float study of their current collections process. For an average month, the bank has determined that the company has three basic batches of collections with associated collection float as listed below: Batch Avg Collections Days of Float #1 (Local) $ 25,000,000 1 #2 (Regional) $ 15,000,000 3 #3 (Distant) $ 40,000,000 5 Determine the average daily float for the above collections for a typical 30 day month. $15,000,000 $270,000,000 $9,000,000 $26,666,667