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20-12-2022
Business

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32. halliday inc. receives a $2 million payment once a year. of this amount, $700,000 is needed for cash payments made during the next year. each time halliday deposits money in its account, a charge of $2.00 is assessed to cover clerical costs. if halliday can hold marketable securities that yield 5 percent, and then convert these securities to cash at a cost of only the $2 deposit charge, what is the total cost for one year of holding the minimum cost cash balance according to the baumol model? a. $7,483 b. $187 c. $3,741 d. $374 e. $748

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