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The firm can earn 8% per annum on short-term investments, and the cost of sending an employee to New York or California to present the
The firm can earn 8% per annum on short-term investments, and the cost of sending an employee to New York or California to present the check for payment is $500. What is the net benefit to the firm of employing this special handling technique for a $5 million check received on Tuesday? (Assume 365 days per year.)
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