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The treasury analyst for Garth Manufacturing has estimated the cash flows for the first half of next year (ignoring any short-term borrowings) as follows.  Garth is expected to have a cash balance of $2 million on January 1 and no amount utilized on its line of credit. Assuming all cash flows occur at the end of the month,
The lowest cash need is $2 million. approximately how much will Garth borrow during the first half of the year? A. Zero. C. $8 D. $3 |