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first one wasnt right Rose Axels faces a srpooth arnual demand for cash of $5.12 milion, incurs transaction costs af $273 every time the company

first one wasnt right
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Rose Axels faces a srpooth arnual demand for cash of $5.12 milion, incurs transaction costs af $273 every time the company sells marketable securities, and carn earn 4.1 percent on its marketable securities. What will be its optimal cash replnishment level? (Enter your answer in dollars not in millions. Round your answer to 2 decimal places.)

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