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Problem 1: The XYZ Company had divided its monthly check collections into 3 batches as follows: Batch #1 has 2 days of float with average monthly collections of $80,000; Batch #2 has 3 days of float with average monthly collections of $70,000; and Batch #3 has 5 days of float with average monthly collections of $50,000. Given a 30 day month, what is the average daily float for this company?
Group of answer choices
Option 1: $20,667
Option 2: $22,222
Option 3: $23,667
Option 4: $66,667
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