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Problem 1 4 - 2 3 Optimal Upper Cash Limit ( LG 1 4 - 8 ) Veggie Burgers, Inc. would like to maintain its

Problem 14-23 Optimal Upper Cash Limit (LG14-8)
Veggie Burgers, Inc. would like to maintain its cash account at a minimum level of $253,000 but expects the standard deviation in net daily cash flows to be $12,800, the effective annual rate on marketable securities to be 4.5 percent per year, and the trading cost per sale or purchase of marketable securities to be $31.50 per transaction.
What will be its optimal upper cash limit?(Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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