Each business day, on average, a company writes checks totaling $37,500 to pay its suppliers. The usual clearing time for the checks is six days. Meanwhile, the company is receiving payments from its...

Each business day, on average, a company writes checks totaling $37,500 to pay its suppliers. The usual clearing time for the checks is six days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $48,500. The cash from the payments is available to the firm after four days.