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A firm has a cash conversion cycle of 70 days. Annual outlays are $17.5 million and the cost of negotiated finance is 9.66%. If the

A firm has a cash conversion cycle of 70 days. Annual outlays are $17.5 million and the cost of negotiated finance is 9.66%. If the firm reduces its average collection period by 12 days, the annual savings will be..(assume 365 days per year)

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