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Your bank has offered services that will shorten the firm's collection float by 17 days to 3 days from the existing float time of 4%

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Your bank has offered services that will shorten the firm's collection float by 17 days to 3 days from the existing float time of 4% days (-10%). Assuming $500,000 in average daily remittances, calculate the improvement in PV from the services (ignore any cost to install the services). PV = D 365 $218.64 $3,787.80 $205.06 $5,356.27

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