On an Average Day,Tennis R Us Writes Checks Totaling $2,000

question 44

Multiple Choice

On an average day,Tennis R Us writes checks totaling $2,000. These checks take 3 days to clear. The company receives checks totaling $1,800. These checks take 2 days to clear. The cost of debt is 8%. If the average daily float is $2,500,what is the net present value per day?

• A) $-0.55
• B) $-5.55
• C) $-252.66
• D) $-197.00
• E) None of these.

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