18. Tambourines Inc. collects $12 million per year from customers in a remote location.

The average remittance check is $1,200. A lock box system would shorten the overall float on these receipts from eight days to seven days, but would cost $2,500 per year plus $.20 per check. The relevant interest rate is 9%. Should Tambourines install the system? Use a 360-day year.