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Miranda Tool Company sells to retail hardware stores on credit terms of "net 30". Annual credit sales are $18 million and are spread evenly...

I need help with question C, here: Miranda Tool Company sells to retail hardware stores on credit terms of "net 30". Annual credit sales are $18 million and are spread evenly throughout the year. The company's variable cost ratio is 0.70, and its accounts receivable average $1.9 million. Using this information, determine the following for the company


c.      Average investment in receivables


I see too many contradicting formulas over the internet

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