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Hoyes Lumber generally receives three checks a month in the amounts of $1,200, $1,650, and $2,200. The $2,200 check has a two-day collection delay while
Hoyes Lumber generally receives three checks a month in the amounts of $1,200, $1,650, and $2,200. The $2,200 check has a two-day collection delay while the others have a one-day delay. Given this information, what is the amount of the average daily float? Assume each month has 30 days.
1.$241.67
2.$140.79
3.$147.50
4.$168.33
5.$109.18
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