MLX has annual sales of $320 million per year and has calculated the collection float to be 12 days. If MLX is currently paying 9.35% on its line of credit, what amount of interest expense could be saved if the collection float is reduced by 3 days? (Assume 365 days per year.

$245918

Explanation:

Following the information given in the question, the amount of interest expense that could be saved if the collection float is reduced by 3 days will be calculated thus:

= Sales × Interest × Sales reduction/365

= $320 million × 9.35% × 3/365

= $245918

Therefore, the interest expense that can be saved is $245918.

i believe the correct answer is cost benefit analysis (cba). plz check first good

explanation:

i would ask my boss to do more things around the car shop. and i would slowly work my way up to working on cars and becoming a full time mechanic.