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In: Finance

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

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

a.

32,540
b.

34,400
c.

35,800
d.

36,400

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Expert Solution

jeff jeffy answered 5 months ago
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