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A firm has a Days Receivables Outstanding (DRO) of 43 days. Its annual sales outstanding are $2.8 billion. If it could reduce its DRO to
A firm has a Days Receivables Outstanding (DRO) of 43 days. Its annual sales outstanding are $2.8 billion. If it could reduce its DRO to 30 days, how much cash could it free up for other investments? Assume a 360-day year.
Group of answer choices
$101,111,100
$58,333,300
$84,907,400
$111,481,500
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