Do Homework - Chinedu Ibuaka - Google Chrome X mathxl.com/Student/PlayerHomework.aspx?homeworkld=5756384098questionld=3&flushed=true&cld=6183900¢erwin=yes Fall 2020: MGT 9170 (1) Chinedu Ibuaka & | 10/16/20 11:58 AM Homework: WEEK 7 ASSIGNMENT - CHAPTER 19 Save Score: 0 of 1 pt 4 of 8 (0 complete) HW Score: 0%, 0 of 8 pts P 19-10 (book/static) iQuestion Help The Saban Corporation is trying to decide whether to switch to a bank that will accommodate electronic funds transfers from Saban's customers. Saban's financial manager believes the new system would decrease its collection float by as much as 5 days. The new bank would require a compensating balance of $30,000, whereas its present bank has no compensating balance requirement Saban's average daily collections are $10,000, and it can earn 8.0% on its short-term investments. Should Saban make the switch? (Assume the compensating balance at the new bank will be deposited in a non-interest-earning account.) As a result of using the electronic funds transfer system, the amount of collection float freed up by the loan is $ (Round to the nearest dollar.)