Calculate the average daily float

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Reference no: EM13929443

Your firm receives 10 checks per month. Of these, 6 are for $1,000 and 4 are for $500. The delay for the $1,000 checks is 5 days, and the $500 checks are delayed 8 days. Calculate the average daily float.

$1,533.33

$1,486.87

$1,500.00

$1,530.35

$1,590.04

Reference no: EM13929443

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