On an average day, Mady's writes checks totaling $2,000. These checks take three days to clear. The company receives checks totaling $1,800. These checks take two days to clear. The cost of debt is 8%.

I. What is the firm's disbursement float?

II. What is the firm's collection float?

III. What is the firm's net float?

IV. If the average daily float is $2,500, what is the net present value per day?