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You are reviewing your targets for short-term cash reserves next year. You wish to carry at least twenty days cash on hand. If annual budgeted

You are reviewing your targets for short-term cash reserves next year. You wish to carry at least twenty days cash on hand. If annual budgeted cash expenses are $48,000,000, what amount of short-term cash reserves should be targeted?

$2,987,137

$2,630,000

$3,630,137

$2,930,137

$2,630,137

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