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 Carroll & King Corporation has $5 million of inventory and $2 million of accounts receivable

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 Carroll & King Corporation has $5 million of inventory and $2 million of accounts receivable. Its average daily sales are $120,000. The company's payables deferral period (accounts payable divided by daily purchases) is 30 days. What is C&K's cash conversion cycle? 
a. 24 b. 26 c. 27 d. 28 e. 30