2. 10.

Calculating transactions required [LO 19.2] Yallambie Chips, a large fertiliser distributor based in Western Australia, is planning to use a direct debit system to speed up collections from its customers located on the East Coast. The bank will provide this service for an annual fee of $6 500 plus 10 cents per transaction. The estimated reduction in collection and processing time is one day. If the average customer payment in this region is $2 900, how many customers each day, on average, are needed to make the system profitable for Yallambie Chips? Treasury notes are currently yielding 4 per cent per year, and there are 365 days per year.