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Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover ratio of 12 times, average collection period of 30 days,

Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover ratio of 12 times, average collection period of 30 days, and total sales of $64 million. Calculate the value of cash and marketable securities. Assume all sales are credit sales. Assume that Mandesas cost of sales are $48 million.

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