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Question: MRP Pharma has provided the following details on its float. Each business day, on average, the company writes cheques totalling $150,000 to pay its suppliers. The usual clearing time for the cheques is five days. Meanwhile, the company is receiving payments from its customers each day, in the form of cheques, totalling $200,000. The cash from the payments is available to the firm after seven days.
Required
a) Calculate the disbursement float, collection float and net float for MRP Pharma.
b) What would be MRP Pharma's net float if the collected funds were available in three days instead of seven?
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