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Please see attached Finance question: Thanks, Vicki Course Hero Question-Finance (2) 3/2/2015: Grape Feet Wine, Inc., receives an average of $14,000 in checks per day.
Please see attached Finance question: Thanks, Vicki
Course Hero Question-Finance (2) 3/2/2015: Grape Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The current interest rate is .018 percent per day. a. What is the company's float? (Do not round intermediate calculations.) Company's float $ b. What is the most Grape Feet should be willing to pay today to eliminate its float entirely? (Do not round intermediate calculations.) Maximum payment $ c. What is the highest daily fee the company should be willing to pay to eliminate its float entirely? (Round your final answer to 2 decimal places. (e.g., 32.16)) Maximum daily charge $Step by Step Solution
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