Your firm generally receives 4 checks a month. The check amounts and the collection delay for each check is shown below. Given this information, what is the amount of the average daily float? Assume a 30-day month.

Show all work please.

Item Number	Item Amount	Delay
1	$2,700	4

2

$7,700

5

3

$2,800

5

4

$4,800

3