Chris$$s Outdoor Furniture, Inc. has net cash flows from operating activities for the last year of $$420$ million. The income statement shows that net income is $$395$ million and depreciation expense is $$52$ million. During the year, the change in inventory on the balance sheet was $$42$ million, change in accrued wages and taxes was $$22$ million, and change in accounts payable was $$33$ million. At the beginning of the year, the balance of accounts receivable was $$52$ million.

Calculate the end$-$of$-$year balance for accounts receivable.$($Enter your answer in millions of dollars.$)$

You are evaluating a project for The Tiff$-$any golf club, guaranteed to correct that nasty slice. You estimate the sales price of The Tiff$-$any to be $$490$ per unit and sales volume to be $1,000$ units in year $1$; $900$ units in year $2$; and $1,325$ units in year $3.$ The project has a $3-$year life. Variable costs amount to $$270$ per unit and fixed costs are $$100,000$ per year. The project requires an initial investment of $$192,000$ in assets, which will be depreciated straight$-$line to zero over the $3-$year project life. The actual market value of these assets at the end of year $3$ is expected to be $$44,000.$ NWC requirements at the beginning of each year will be approximately $20$ percent of the projected sales during the coming year. The tax rate is $34$ percent and the required return on the project is $10$ percent.

What change in NWC occurs at the end of year $1?($Enter a decrease as a negative amount using a minus sign.$)$

Mr$.$ Husker$$s Tuxedos Corp. ended the year $2018$ with an average collection period of $35$ days. The firm$$s credit sales for $2018$ were

$$55\mathrm{.}8$ million.

What is the year$-$end $2018$ balance in accounts receivable for Mr$.$ Husker$$s Tuxedos?$($Enter your answer in dollars not in millions.$)$

Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is $12$ percent, and that the maximum allowable payback and discounted payback statistics for your company are $2\mathrm{.}5$ and $3\mathrm{.}0$ years, respectively.

$$

Time: $012345$

Cash flow: $$$$229,000$ $$65,200$ $$83,400$ $$140,400$ $$121,400$ $$80,600$

Use the payback decision rule to evaluate this project.$($Round your answer to $2$ decimal places.$)$