The income statement of Gladstone Company for 2009 shows the total sales to be $135 million, while the cost of goods sold is 63% of sales. The cost of capital for Gladstone is 15%. All sales are on credit. We also have the following information about the company from its balance sheet, in $million.

	12/31/09	12/31/08
Inventory	35	30
Accounts receivable	80	40
Accounts payable	30	20

A. Find the length of operating cycle for Gladstone Company.

B. Find the number of days in its cash cycle.

C. Find the NPV of its operating cycle.