Problem 14-23 Optimal Upper Cash Limit (LG14-8)

Veggie Burgers, Inc. would like to maintain its cash account at a minimum level of $252,000 but expects the standard deviation in net daily cash flows to be $12,700, the effective annual rate on marketable securities to be 4.4 percent per year, and the trading cost per sale or purchase of marketable securities to be $31.00 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.)