The Gibson Co. generally receives 4 checks a month. A month is defined as a 30 day period. The check amounts and the collection delay for each check are shown below. Given this information, what is the amount of the average daily float?

Item Number	Item Amount	Delay
1	$3,400	5
2	$8,000	5
3	$6,500	6
4	$10,700	2

		$3,800.00
		$4,805.88
		$5,720.00
		$2,723.33
		$1,682.35