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Calculate the value of cash and marketable securities

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Reference no: EM131205819

Dudley, Inc., has current liabilities of $8 million, current ratio of 2.0 times, inventory turnover of 12 times, average collection period of 30 days, and credit sales of $64.

Calculate the value of cash and marketable securities. (Use 365 days a year. Round your intermediate calculations and final answer to the nearest dollar amount.)

Reference no: EM131205819

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