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Chasteen Hall currently has 68 days in its cash cycle and 157 days in its operating cycle. The firm purchases its inventory from one supplier.
Chasteen Hall currently has 68 days in its cash cycle and 157 days in its operating cycle. The firm purchases its inventory from one supplier. This supplier has offered a 5 percent discount to the firm if it will pay for its purchases within 10 days instead of the normal 31 days. If the firm opts to take advantage of the discount offered, its new operating cycle will be _____ days and its new cash cycle will be _____ days.
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