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Cash is king. Therefore, receiving cash sooner than later is important. Therefore, assume that on a daily basis, Tesla receives $2,410 in checks from customers.

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Cash is king. Therefore, receiving cash sooner than later is important. Therefore, assume that on a daily basis, Tesla receives $2,410 in checks from customers. These checks clear the barik in an average of 2.2 days. The applicable daily interest rate is 0.01 percent. What is the present value of the float? Assume each month has 30 days. $3,505 O $5,412 $229 O $5,302 O $110

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