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( Eliminating float ) The firm receives an average of $17500 in checks per day. The weighted average delay in clearing is 3 days. The
(Eliminating float) The firm receives an average of $17500 in checks per day. The weighted average delay in clearing is 3 days. The current interest rate is 0.017 percent per day. What is the firms float? What is the most the firm should be willing to pay today to eliminate its float entirely? What is the highest daily fee the firm should be willing to pay to eliminate its float entirely?
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