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A firm currently has cash and equivalents of $800,000, revenues of $6,500,000, and COGS of $3,250,000. The firm's treasury manager would like to increase the
A firm currently has cash and equivalents of $800,000, revenues of $6,500,000, and COGS of $3,250,000. The firm's treasury manager would like to increase the days' cash held by 10 days, solely through an increase in cash holdings. What change in cash holdings is required to hit this target?
a. | $889,075.34 | |
b. | $782,191.78 | |
c. | -$89,075.34 | |
d. | $89,075.34 |
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