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Show step by step handwritten not by chat gpt. Veggie Burgers, Inc. would like to maintain its cash account at a minimum level of $257,000

Show step by step handwritten not by chat gpt.

image text in transcribed Veggie Burgers, Inc. would like to maintain its cash account at a minimum level of $257,000 but expects the standard deviation in net daily cash flows to be $13,200, the effective annual rate on marketable securities to be 4.5 percent per year, and the trading cost per sale or purchase of marketable securities to be $33.50 per transaction. What will be its optimal cash return point? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

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