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Mandesa, Inc., has current liabilities of $9,900,000, current ratio of 1.9 times, inventory turnover of...

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Accounting

Mandesa, Inc., has current liabilities of $9,900,000, current ratio of 1.9 times, inventory turnover of 11 times, average collection period of 30 days, and credit sales of $63,999,991. Calculate the value of cash and marketable securities. (Use 365 days a year. Round your intermediate calculations and final answer to the nearest dollar amount.)

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