18. Your firm has an average receipt size of $130. A bank has approached you concerning a lockbox service that will decrease your total collection time by two days. You typically receive 6,600 checks per day. The daily interest rate is .018 percent. The bank charges a lockbox fee of $185 per day.

a) What is the NPV of accepting the lockbox agreement?

b) What would the net annual savings be if the service were adopted?

PLEASE ANSWER WITHOUT COPY OTHER SAME QUESTIONS. BECAUSE THERE HAVE DIFFERENT ANSWERS. NEED TRUE AND DETAILED ANSWER...