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Smith Corp has:
$13 million of sales$2 million of inventories$3 million of receivables$2 million of payables
Its cost of goods sold is 75% of sales, and it finances working capital with bank loans at an 8% rate. Assume 365 days in year for your calculations. Do not round intermediate steps. Smith's cash conversion cycle (CCC) 84.23 Days
1. If Smith Corp could lower its inventories and receivables by 9% each and increase its payables by 9%, all without affecting sales or cost of goods sold, what would be the new CCC? Round your answer to two decimal places.
2. How much cash would be freed-up? Round your answer to the nearest cent.
By how much would pre-tax profits change? Round your answer to the nearest cent.
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The bond issue in question has a par value of $1,000 and 7 years to maturity. How much should the investor be willing to pay for this bond?
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They can be evaluated to determine whether the market in which the manager exchanges goods and services offers true value.
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