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Veggie Burgers, Incorporated would like to maintain its cash account at a minimum level of $ 2 4 5 , 0 0 0 but expects

Veggie Burgers, Incorporated would like to maintain its cash account at a minimum level of $245,000 but expects the standard deviation in net daily cash flows to be $12,000, the effective annual rate on marketable securities to be 3.7 percent per year, and the trading cost per sale or purchase of marketable securities to be $27.50 per transaction. What will be its optimal upper cash limit?

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