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Earth Co, a telephone business, has annual sales of $1 million and a gross profit margin of 30%. It is currently experiencing short-term cash flow difficulties, and intends to delay its payments to trade payables by one month. To the nearest dollar, calculate the amount by which the cash balance will benefit in the short-term from this change in policy, assuming sales are spread evenly over the year, and inventory levels remain constant throughout. After assumptions, the amount by which the cash balance will benefit in the short-term from this change in policy is $: ________ (To nearest $) |