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Edible Foods has annual sales of $520 million per year and has calculated that the collection float is 10 days. If Edible Foods is currently
Edible Foods has annual sales of $520 million per year and has calculated that the collection float is 10 days. If Edible Foods is currently paying 8.5 percent on its line of credit, what amount of interest expense could be saved if the collection float is reduced by 3 days? Assume 365 days per year
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