Pls help me in computing this problem.?

Camp Manufacturing turns over its inventory 8 times each year, has an average payment period of 35 days, and has an average collection period of 60 days. The firm鈥檚 total annual outlays for operating-cycle investments are $3.5 million. Assume a 360-day year. we were ask to calculate the firm's operating cycle, cash conversion cycle and daily cash operating expenditure.

I think the answer to the cash conversion cycle is

Inventory days = 45 (360/8)
AR Days = 60
AP Days = 35

45 + 60 - 35 = 70

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