Click here to read the eBook: The Cash Conversion Cyde Problem Walk-Through CASH CONVERSION CYCLE Parramore Corp has $12 million of sales, $3 million of inventories, 54 million of receivables, and $2 million of payables. Its cost of goods sold is 65% of sales, and it finances working capital with bank loans at an 7% rate. Assume 365 days in year for your calculations. Do not found intermediate steps 1. What is Parramore's cash conversion cycle (CCC)? De not round intermediate calculadora. Round your answer to two decimal places days 2. Parramore could lower its inventories and receivables by 12% each and increase its payables by 12%, all without affecting sales or cost of goods said, what would be the new CCC? Do not round intermediate cakulations. Round your answer to two decimal places days 3. How much cash would be freed up, If Parramore could tower its inventories and receivables by 12% each and increase its payables by 12%, all without affecting sales or cost of goods sold? Do not round intermediate calculations, Round your answer to the nearest cent. Write out your answer completely. For example, 13.2 million should be entered a 13,200,000 4. By how much would pretak profits change. Parramore could lower its inventories and receivables by 12% each and increase its payables by 12%, all without affecting sales or cost of goods sold Do not round intermediate calculations. Round your answer to the nearest cont. Write out your awer completely. For example, 13.2 million should be entered 13,200,000