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A firm with annual sales of $8,300,000 increases its inventory turnover from 2.5 to 4.5. How much would the company save annually in interest expense

A firm with annual sales of $8,300,000 increases its inventory turnover from 2.5 to 4.5. How much would the company save annually in interest expense if the cost of carrying the inventory is 7 percent? Round your answer to the nearest dollar.

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