Sheila's Society Clothing Manufacturer has collection centres around the country to speed up cash collections. The company also makes its disbursements from remote disbursement centres, so cheques written by Sheila's take longer to clear the bank. Collection time has been reduced by three days and disbursement time has been increased by two days because of these policies. Excess funds are being invested in short-term instruments yielding 4 percent per annum. a. If the firm has $4.70 million per day in collections and $3.70 million per day in disbursements, how many dollars has the cash management system freed up? (Enter the answer in dollars not in millions.) Freed-up funds b. How much can Sheila's earn per year on short-term investments made possible by the freed-up cash? (Enter the answer in dollars not in millions.) Interest on freed-up cash $ Megahurtz International Car Rentals has rent-a-car outlets throughout the world. It keeps funds for transaction purposes in many foreign currencies. Assume that in 20XX it held 230,000 reals in Brazil worth $160,000. It earned 11 percent interest, but the real declined 21 percent against the dollar. a. What is the value of its holdings, based on Canadian dollars, at year-end? (Do not round intermediate calculations.) $ Value of the holdings b. What is the value of its holdings, based on Canadian dollars, at year-end if it earned 8 percent and the real went up by 12 percent against the dollar? (Do not round intermediate calculations.) Value of the holdings