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Purple Feet Wine, Inc., receives an average of $22,000 in checks per day. The delay in Clearing is typically four days. The current interest rate
Purple Feet Wine, Inc., receives an average of $22,000 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? b. What is the most the company should be willing to pay today to eliminate its float entirely? c. What is the highest daily fee the company should be willing to pay to eliminate its float entirely? (Round your answer to 2 decimal places, e.g., 32.16.) a. Company's float Maximum payment c. Maximum daily fee
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