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Joe's Burgers would like to maintain their cash account at a minimum level of $ 3 0 0 , 0 0 0 , but expects

Joe's Burgers would like to maintain their cash account at a minimum level of $300,000, but expects the standard deviation in net daily cash flows to be
$20,000; the effective annual rate on marketable securities to be 5.2 percent per year; and the trading cost per sale or purchase of marketable securities to
be $22.50 per transaction. What will be their optimal upper cash limit?
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