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Each business day, on average, a company writes checks totaling $13,400 to pay its suppliers. The usual clearing time for the checks is four days.

Each business day, on average, a company writes checks totaling $13,400 to pay its suppliers. The usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $24,400. The cash from the payments is available to the firm after two days.

a.

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