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I need help with E, thanks A mail-order firm processes 5,700 checks per...

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Finance

I need help with E, thanks

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A mail-order firm processes 5,700 checks per month. Of these, 70 percent are for $47 and 30 percent are for $79. The $47 checks are delayed two days on average; the $79 checks are delayed three days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round intermediate calculations.) Answer is complete and correct. Average daily collection float $ 26,011 a-2. How do you interpret your answer? (Do not round intermediate calculations.) Answer is complete and correct. On average, there is $ 26,011 that is uncollected and not available to the firm. b-1. What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete and correct. Weighted average delay 2.42 days b-2. Calculate the average daily float. (Do not round intermediate calculations.) Answer is complete and correct. Average daily float $ 26,025 e. How much should the firm be willing to pay to reduce the weighted average float to 2 days? (Do not round intermediate calculations.) X Answer is complete but not entirely correct. Maximum payment $ 19

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