Purple Feet Wine, Inc., receives an average of $21000 in checks per day. The delay...
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Purple Feet Wine, Inc., receives an average of $21000 in checks per day. The delay in clearing is typically two days. The current interest rate is .016ercent per day. a. What is the company's float? (Do not round intermediate calculations.) b. What is the most the company should be willing to pay today to eliminate its float entirely? (Do not round intermediate calculations.) c. What is the highest daily fee the company should be willing to pay to eliminate its float entirely?
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