Assume that biggie mart whose credit card billings total, Ask an Expert

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Assume that Biggie Mart, Whose credit card billings total 120 billion per year were to implement a lockbox arrangment that would speed up collection by 2 full days. If biggie mart could earn 3.5% on its marketable securities, how much would the firm earn per year from such an arrangement?

A)230.14 million
B)244.58 million
C)183.50 million
D)316.99 million

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