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Madison Corner writes 26 checks a day for an average amount of $481 each. These checks generally clear the bank 3.75 days after they are
Madison Corner writes 26 checks a day for an average amount of $481 each. These checks generally clear the bank 3.75 days after they are written. In addition, the firm generally receives 63 checks with an average amount of $538 each. Deposited amounts are available after an average of 3.25 days. What is the amount of the firm's collection float?
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