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Rose Axels faces a smooth annual demand for cash of $5.18 million

/in /by

Rose Axels faces a smooth annual demand for cash of $5.18 million,
incurs transaction costs of $267 every time the company sells marketable securities, and can earn 3.5 percent on its marketable securities.

What will be its optimal cash replenishment level? round to the 2 decimal

Optimal cash $_______

 
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