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If Company A has average daily credit sales of $800,000, by how much will its pre-tax earnings per year increase if it speeds up collection
If Company A has average daily credit sales of $800,000, by how much will its pre-tax earnings per year increase if it speeds up collection by 1 day, assuming an interest rate of 7.40% per year? Responses a) $65,000 b) $60,000 c) $59,200 d) $56,000
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