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19. Invention, Inc. receives an average of 250 checks a day. The average amount per check is $450. The firm is considering a lockbox system

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19. Invention, Inc. receives an average of 250 checks a day. The average amount per check is $450. The firm is considering a lockbox system which it anticipates will reduce the average collection time by 3 days. The bank charges $.15 a check for this service. The daily interest rate on Treasury bills is .01 percent. What is the net present value of this lockbox arrangement? A. $506.25 B. $1,125.00 c. $112,500.00 D. -$37.500.00

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