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On an average day, Campus Cafe receives $ 2 6 , 4 8 2 in checks from customers. These checks clear the bank in an

On an average day, Campus Cafe receives $26,482 in checks from customers. These checks clear the bank in an average of 1.3 days. The applicable daily interest rate is .016 percent. What is the highest daily fee that should be paid to completely eliminate the collection float? Assume each month has 30 days.
Multiple Choice
$5.78
$4.24
$4.18
$3.29
$5.51

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