The following data have been projected for Limitless Inc.
(1) Annual cash requirement of $4,000,000, which will occur uniformly throughout the year.
(2) Cost per transaction of $10.
(3) Opportunity cost of holding cash is 5%.
(4) Use 360 days.
Use this data to compute:
(a) Optimal cash transfer - 2 pts
(b) Average cash balance - 1pt
(c) Number of transfers per year - 1 pt
(d) How often will the company have to transfer? - 1 pt
(e) Total costs - 3 pts

what are the answers for d and e

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