Calculate the value of cash and marketable securities

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Reference no: EM131959980

Mandesa, Inc. has current liabilities of $9,000,000, current ratio of 1.9 times, inventory turnover of 11 times, average collection period of 40 days, and credit sales of $65,000,000.

Calculate the value of cash and marketable securities. (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.)

Reference no: EM131959980

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