ABC Corp. disburses $4 million annually and keeps idle funds in Treasury bills which earn an average of 5 percent and incur a fixed cost of $35 each time a cash conversion is made. What is the average amount of cash that ABC Corp. should have on hand?

A) $16,733
B) $74,833
C) $37,417
D) $33,466

Ans: C) $37,417

Business

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A customer just paid $318 for a Blu-ray player. If the cost was 60% of selling price what was the mark up amount?

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