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  3. your firm generally receives 4 checks a month. the

Your firm generally receives 4 checks a month. The check amounts and the collection delay...

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Finance

Your firm generally receives 4 checks a month. The check amounts and the collection delay for each check is shown below. Given this information what is the amount of the average daily float? Assume a 30 day month.

Item Number Item Amount Delay
1 $1,500 2 days
2 $3,900 1 day
3 $6,100 3 days
4 $4,200 2 days

A. $1,120

B. $2,333

C. $2,640

D. $2,900

E. $3,416

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