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Rose Axels faces a smooth annual demand for cash of $ 5 . 1 0 million, incurs transaction costs of $ 2 8 5 every
Rose Axels faces a smooth annual demand for cash of $ million, incurs transaction costs of $ every time the company sells marketable securities and can earn percent on its marketable securities
What will be its optimal cash replenishment level? Enter your answer in dollars not in millions. Round your answer to decimal places.
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