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You have recently been hired to improve the performance of Multiplex Corporation which has been experiencing a severe cash shortage. As part of your analysis, you want to determine the firm's cash conversion cycle. Using the following information and a 360-day year, what is your estimate of the firm's current cash conversion cycle?

Current inventory=$120,000

Annual sales=$600,000

Accounts receivable=$160,000

Accounts payable= $25,000

Total annual purchases= $360,000

Purchases credit terms: net 30 days

Receivables credit terms: net 50 days

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