HotFoot Shoes would like to maintain its cash account at a

in /by

HotFoot Shoes would like to maintain its cash account at a

HotFoot Shoes would like to maintain its cash account at a minimum level of $42,000, but expects the standard deviation in net daily cash flows to be $5,700, the effective annual rate on marketable securities to be 5.8 percent per year, and the trading cost per sale or purchase of marketable securities to be $130 per transaction.
What will be its optimal cash return point? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places.)
  Optimal cash return point $ ______  

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