Your banker has analyzed your company account and has suggested that her bank has a cash management package for you. She suggests that with a concentration banking system, your float can be reduced by three days on average. You, of course, are delighted you're not sure why), but you do know your average daily collections amount to $350,000. Your opportunity cost of funds is 9 percent. The bank provides this service for $57,000 plus a compensating balance in your current account of $79,500. (A compensating balance is the amount you are required to maintain Interest free at that bank.) a. Is this package worth it? O Yes O No b. By how much? (Negative answer should be indicated by a minus sign.) Annual Saving $ Lett's commercial paper is currently selling at a discount. It sells for 98.36 of par and matures in 100 days. (Use 365 days a year. Do not round Intermediate calculations. Round the final answers to 2 decimal places.) a. Calculate its yield as quoted in the market. Yield % b. Calculate its effective annual yield. Effective annual yield % Megahurtz International Car Rentals has rent-a-car outlets throughout the world. It keeps funds for transaction purposes in many foreign currencies. Assume that in 20XX it held 370.000 reals in Brazil worth $300,000. It eamed 11 percent interest, but the real declined 21 percent against the dollar a. What is the value of its holdings, based on Canadian dollars, at year-end? (Do not round intermediate calculations.) Value of the holdings $1 b. What is the value of its holdings, based on Canadian dollars, ot year end if it earned 8 percent and the real went up by 12 percent against the dollar? (Do not round intermediate calculations.) Value of the holdings Sanders' Prime Time Lighting Co, has credit sales of $1,980,000 and accounts receivable of $286,000. Compute the value for the average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole number.) Average collection period days