The solar inc. has daily cash receipts of $90,000. a recent analysis of its collections indicated that customers' payments were in the mail for an average of 4 days. once received,the payments are processed in one and a half days. after payments are deposited, it takes an average of two and a half days for these receipts to clear the banking system. if the firm's opportunity cost is 11%, would it be economically advisable for the firm to pay an annual fee of $8,000 to reduce collection float by 2 days?
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