A firm decides to lower its credit standards in an effort to increase revenues and earnings. Immediately after the change, the firm sells $1,000 of goods on credit. The goods were listed on the books in inventory at $600, but that inventory is replaced at a cost of $600. How will this impact the cash conversion cycle as estimated from the firms financial statements? CCC WILL BE HIGHER WILL BE LOWER WILL NOT CHANGE IS INDETERMINATE What is the most likely impact on the firms ROIC over the long run? Note that this is a thought question rather than a numerical-analysis question. ROIC will likely, on average, BE HIGHER BE LOWER NOT CHANGE Briefly explain your reasoning for your ROIC answer