Question 1 of 4 Check My Work (a remaining) Click here to read the eBook: The Cash Conversion Cyde Problem Walk-Through CASH CONVERSION CYCLE Parramore Corp has $13 million of sales, $1 million of inventories, $3 million of receivables, and $3 milion of payables its with bank loans at an 8% rate. Assume 365 days in year for your calculations. Do not round intermediate steps. st of goods sold is 85% of sales, and it fin nces ng aptal 1. What is Parramore's cash conversion cyde (CCC)? Do not round intermediate calculations. Round your answer to two decimal places. days ease its payables by 8%, all without affecting sales or cost of goods sold, what would be the new CCC? Do not 2. If Parramore could lower its inventories and receivables by 8% each and incr round intermediate calculations. Round your answer to two decimal places. days freed up, if Parramore could lower its inventories and receivables by 8% each and increase its payables by 8%, all without affecting sales a cost of goods sold? Do 3. How much cash would be not round intermediate calculations. Round your answer to the nearest cent. Write out your ans wer completely. For Example, 13.2 million should be entered as 13,200.000. increase ts parables without affecting a esa osta goos a By how much would pretax profits change, Parramore could fower its inventories and receivables by 3% each an ations. Round your answer to the nearest cent. Write out your answer completely. For Example, 13.2 million should be entered as 13,200.000 Check My Work (s remaining Or Icon Ko Problem 15.01 nstructor