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A. Anthony & Sons Concrete Company has been offered by its bank to manage its cash at a cost of $35,000 per year. Under the proposed cash management, the firm can reduce the cash required on hand by $180,000. Since the bank is also doing a lot of record keeping, the firm's administrative cost would decrease by $2,000 per month. What recommendation would you give the firm with respect to the proposed cash management assuming the firm's opportunity cost is 12 percent?
Network of Relatives
The complex system of relationships among members of an extended family, including immediate family, cousins, in-laws, and other kin.
Rights and Obligations
Legal and moral entitlements that individuals have in society, alongside duties or actions they are expected to perform or abstain from.
Formally Established
Recognized or constituted by relevant authorities or according to proper procedure.
Certain Time Span
A specific period or duration of time, defined by start and end points.
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