Q:Question:A parent company settles the collection account balances of its subsidiaries once a week. (That is, each week it transfers any balances in the accounts to a central account.) The cost of a wire transfer is \( \$ 14 \). A check costs \( \$ 0.84 \). Cash transferred by wire is available the same day, but the parent must wait three days for checks to clear. Cash can be invested at \( 14 \% \) per year. How much money must be in a collection account before it pays to use a wire transfer? (Use a 365-day year. Do not round intermediate calculations. Round your answer to 2 decimal places.)A:Answer:Suppose, we need to transfer X amount of money fro...