The interest rate is 250 what are the annual storage costs


AIA Inc. is looking to manage its cash position using the EOQ model. The company is consuming cash at the rate of $5500 per day, and is open for business 365 days in the year. Each time the firm sells securities to obtain the cash, it costs them $220. The interest rate is 2.50%. What are the annual storage costs associated with the EOQ?

Place your answer to the nearest dollar without including a dollar sign or commas.

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Financial Management: The interest rate is 250 what are the annual storage costs
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