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Data on Party Palace Co. for the most recent year are shown below, along with...

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Finance

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Data on Party Palace Co. for the most recent year are shown below, along with the payables deferral period (PDP) for the firms against which it benchmarks. The firm's new CFO believes that the company should make payments enough to increase its PDP to the benchmarks' average. If this were done, by how much would payables decrease? Use a 365-day year. Cost of goods sold $341,000 Payables - $43,000 Payables deferral period (PDP) - 46.03 Benchmark payables deferral period 30.00 $14.973 $14,291 $15,376 $14,599 $13,872

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