Every day, Consolidated Blancmange writes checks worth $100,000. These checks take an average of five days to clear. The company also receives payments of $150,000 every day. These take three days to clear. a. Calculate payment float, availability float, and net float. b. What would be the companys annual savings if it could reduce availability float to one day? The interest rate is 6 percent a year. What would be the present value of these savings?