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Battery Company receives checks in the amount of $30,000 per day, but the firm loses three days while its receipts are being deposited and cleared.
Battery Company receives checks in the amount of $30,000 per day, but the firm loses three days while its receipts are being deposited and cleared. The firm also writes checks averaging $24,000 a day, and it takes 4 days for these checks to clear. What is the firm's net float in dollars? (Answer in dollars, but without cents.)
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