Valuing float reduction) Griffey
19-7A. (Valuing float reduction) Griffey Manufacturing Company is forecasting that next year’s gross revenues from sales will be $890 million. The senior treasury analyst for the firm expects the marketable securities portfolio to earn 9.60 percent over this same time period. A 365-day year is used in all the firm’s financial procedures. What is the value to the company of one day’s float reduction?
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Jermaine Byrant
Nicole Johnson



