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P16-8 Spontaneous sources of funds, accruals When Tallman Haberdashery, Inc., merged with Meyers Men's Suits, Inc., Tallman's employees were switched from a weekly to a

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P16-8 Spontaneous sources of funds, accruals When Tallman Haberdashery, Inc., merged with Meyers Men's Suits, Inc., Tallman's employees were switched from a weekly to a biweekly pay period. Tallman's weekly payroll amounted to $750,000. The cost of funds for the combined firms is 11%. What annual savings, if any, are realized by this change of pay period

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