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You are trying to determine the total cost for XYZ's monthly cash collection system. Your firm...

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Finance

You are trying to determine the total cost for XYZ's monthlycash collection system. Your firm receives an average of 4000remittances per month with an average face value of 7500. Totalfloat come to 7 days. 6% is your average opportunity cost and yourvariable cost is 0.35 per check. What is XYZ's cost for its cashcollection system?

a.

32,540

b.

34,400

c.

35,800

d.

36,400

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