Question 11 Ashraf Bhd operates a successful business. The firm has an inventory conversion period of 60 days, a receivables conversion period of 35 days and a payable deferral period of 30 days. The firm has a current annual outlay of RM1,000,000 in one-cycle investments and pays 10% for the negotiated financing. Required: a. Calculate the firm's operating cycle. b. Calculate the firm's cash conversion cycle. c. Calculate the firm's annual savings if the operating cycle is reduced by 5 days