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QUESTION
Rose Axels faces a smooth annual demand for cash of $5.16 million, incurs transaction costs of $269 every time the company sells marketable...
Rose Axels faces a smooth annual demand for cash of $5.16 million, incurs transaction costs of $269 every time the company sells marketable securities, and can earn 3.7 percent on its marketable securities. What will be its optimal cash replacement? (Enter your answer in dollars not in millions. Round your answer to decimal places)
