Cirebon Capitals financials for 2020 appear below (all numbers are in millions). Determine the firm's cash conversion cycle. Assume that accounts receivable, accounts payable and inventories are stated as averages. Cash = $10; Accounts receivable = $15; Inventories = $12; Net fixed assets = $30; Total assets = $67; Accounts payable = $15; Long-term debt = $18; Stockholders' equity = $34; Total liabilities and stockholders' equity = $67; Net sales (on credit) = $125; Cost of sales = $75; Earnings after taxes = $7.

21.0 days

29.2 days

62.6 days

58.4 days

52.2 days