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Rose Resources faces a smooth annual demand for cash of $11.9 million; incurs transaction costs of $420 every time they sell marketable securities,...
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Rose Resources faces a smooth annual demand for cash of $11.9 million;

incurs transaction costs of $420 every time they sell marketable securities, and can earn 5.8% on their marketable securities. What will be their optimal cash replenishment level? (Round your answer to 2 decimal places.)

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Subject: Business, Finance

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