You are trying to determine total cost for XYZ's cash collection system. Your firm receives...
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Accounting
You are trying to determine total cost for XYZ's cash collection system. Your firm receives an average of 4000 remittances per month with an average face value of $7,500. Total float time is 7 days. 6% is your annual operating cost. Your variable cost is 0.25 per check. What is XYZ's monthly Total Cost for its cash collection system?
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