Hollywood shoes would like to maintain their cash account, Financial Management

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Hollywood shoes would like to maintain their cash account

Hollywood Shoes would like to maintain their cash account at a minimum level of $54,000, but expect the standard deviation in net daily cash flows to be $4,400; the effective annual rate on marketable securities to be 7.00 percent per year; and the trading cost per sale or purchase of marketable securities to be $140 per transaction. What will be their optimal cash return point? (Round your answer to 2 decimal places.)

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