o A mail-order firm processes 5,300 checks per month of these, 60 percent are for $47 and 40 percent are for $79. The $47 checks are delayed two days on average; the $79 checks are delayed three days on average. Assume 30 days in a month. ts 6-1. What is the average daily collection float? (Do not round intermediate calculations.) Slipped Average daily collection float eBook Print How do you interpret your answer? (Do not round intermediate calculations.) References On average, there is that is and to the form b-1. What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, 9. 32.16.) 4 6 c. How much should the fier be willing to pay to eliminate the float? (Do not round intermediate calculations. 0.83 points Skipped Maximum payment eBook Print d. If the interest rate is 7 percent per year, calculate the daily cost of the float. (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) References Daily cost of the float e. How much should the firm be willing to pay to reduce the weighted average float to 1.5 days? (Do not round intermediate calculations.) Maximum payment 0.83 points b-1.What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Skipped Weighted average delay days eBook Print References b- 2. Calculate the average daily float. (Do not round intermediate calculations.) Average daily float ho c. How much should the firm be willing to pay to eliminate the float? (Do not round intermediate calculations.) Maximum payment