When John Conrad, Inc., merged with Nill Men’s Suits Inc., John’s employees were switched from a weekly to a bi-weekly pay period. John's weekly payroll amounted to $750,000. The cost of funds for the...

When John Conrad, Inc., merged with Nill Men’s Suits Inc., John’s employees were switched from a weekly to a bi-weekly pay period. John's weekly payroll amounted to $750,000. The cost of funds for the combined firms is 11%. Show Solutions and Explanation. A.What annual savings, if any, are realized by this change of pay period (Format: 11,111)