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Rose resources faces a smooth annual demand for cash of 102

Rose Resources faces a smooth annual demand for cash of $10.2 million; incurs transaction costs of $335 every time they sell marketable securities, and can earn 4.1 percent on their marketable securities. What will be their optimal cash replenishment level? (Round your answer to 2 decimal places.)

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Finance Basics: Rose resources faces a smooth annual demand for cash of 102

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