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Rose Resources faces a smooth annual demand for cash of $11.1 million;

/in /by

Rose Resources faces a smooth annual demand for cash of $11.1 million;
incurs transaction costs of $380 every time they sell marketable securities, and can earn 5.0 percent on their marketable securities. What will be their optimal cash replenishment level? (Round your answer to 2 decimal places.)

 
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