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please help! Float Simon Corporation has daily cash receipts of $63,000. A recent analysis of its collections indicated that customers' payments were in the mailan

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Float Simon Corporation has daily cash receipts of $63,000. A recent analysis of its collections indicated that customers' payments were in the mailan average of 2 days. Once received, the payments are processed in 3 days. After payments are deposited, it takes an average of 2 days for these receipts to clear the banking system a. How much collection float (in days) does the firm currently have? b. If the firm's opportunity cost is 8%, would it be economically advisable for the firm to pay an annual fee of $17,700 for a lockbox system to reduce collection float by 3.5 days? c. What would the company's opportunity cost have to be to make the $17.700 foe worthwhile? a. The amount of collection float (in days) the firm currently has is days. (Round to one decimal place)

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