Your firm receives 10 checks per month. Of these, 6 are for $1,000 and 4 are for $500. The delay for the $1,000 checks is 5 days, and the $500 checks are delayed 8 days. Calculate the average daily float.
$1,533.33
$1,486.87
$1,500.00
$1,530.35
$1,590.04