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d. If the interest rate is 6 percent per year, calculate the daily cost of the float. (Use 365 days a year. Do not round

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d. If the interest rate is 6 percent per year, calculate the daily cost of the float. (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) e. How much should the firm be willing to pay to reduce the weighted average float by 2 days? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) A mail-order firm processes 6,300 checks per month. Of these, 70 percent are for $53 and 30 percent are for $85. The $53 checks are delayed two days on average; the $85 checks are delayed three days on average. Assume 30 days per month

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