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Business, 06.08.2021 17:40 adam1299

Assume that Federated Stores, whose credit card billings total $120 billion per year, were to implement a lockbox arrangement that would speed up the collection of its credit card billings by 2 full days. If Federated could earn 3.5% on its marketable securities, how much would the firm earn per year from such a lockbox arrangement? Assume a 365-day year. a. $230.14 million
b. $183.50 million
c. $316.99 million
d. $244.58 million

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Assume that Federated Stores, whose credit card billings total $120 billion per year, were to implem...
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