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Edwards Industries has $ 3 6 0 million in sales. The company expects that its sales will increase 1 8 % this year. Edwards' CFO

Edwards Industries has $360 million in sales. The company expects that its sales will increase 18% this year. Edwards' CFO uses a simple linear regression to forecast the company's receivables level for a given level of projected sales. On the basis of recent history, the estimated relationship between receivables and sales (in millions of dollars) is as follows:
Receivables = $9.75+0.15(Sales)
Given the estimated sales forecast and the estimated relationship between receivables and sales, what are your forecasts of the company's year-end balance for receivables? Enter your answer in millions. For example, an answer of $25,400,000 should be entered as 25.40. Do not round intermediate calculations. Round your answer to two decimal places.
$
million
What are your forecasts of the company's year-end days sales outstanding (DSO) ratio? Assume 365 days in year for your calculations. Do not round intermediate calculations. Round your answer to two decimal places.
days

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