ABC Inc. has the following data, in thousands. Assuming a 365-day year, what is the firm's cash (conversion) cycle?

Annual sales =	$45,000
Annual cost of goods sold =		$38,000
Inventory =	$4,500
Accounts receivable =		$1,800
Accounts payable =	$2,500

	1.	33 days
	2.	34 days
	3.	37 days
	4.	39 days
	5.	26 days