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You are working for a company as the Chief Financial Officer (CFO). Your company has $80,000,000 of excess cash and on March 3, 2021, you

You are working for a company as the Chief Financial Officer (CFO). Your company has $80,000,000 of excess cash and on March 3, 2021, you notice that the overnight money market financing rate is 0.2044% (this is an annualized overnight rate). If you consider depositing your company's excess cash ($80,000,000) for 30 consecutive days in the money market financing rate, calculate the after-tax interest income assuming that the tax rate on interest income is 40%. Also, assume that there is no transaction costs.

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