#14 A firm's net working capital is proportional to its sales. Historically, inventory is 10.00%...
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#14 A firm's net working capital is proportional to its sales. Historically, inventory is 10.00% of sales, accounts receivable is 20.00% of sales, and accounts payable is 12.00% of sales. Below, we have the sales forecast for the upcoming four years: (in millions) Year 0 Year 1 Year 2 Year 3 Year 4 Sales $5.88 $9.13 $14.99 $17.75 $19.00 What will be the investment in NWC for year 2? (answer in terms of millions, xx.xx million) Submit Answer format: Currency: Round to: 2 decimal places
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