2. Multiplex Freight, Inc. receives the following four checks every month: Maersk, $25,000,000, with 5 days of collection float; Hanjin, $39,000,000, with 4 days of collection float; Hapag-Lloyd, $18,000,000, with 6 days of collection float; and Hamburg Sud, $28,000,000, with 5 days of collection float. What is the average daily collection float?

• A. $3,666,667
• B. $15,966,667
• C. $17,633,333
• D. $23,456,900

13. A $1,000 invoice has terms of 1/20, net 50. What is the benefit of taking the discount, before considering the value of funds?

• A. 6.7%
• B. 12.3%
• C. 18.6%
• D. 24.6%

19. It will cost $56,000 to acquire an automated customer ordering system, which will generate incremental after-tax cash flows of $12,000 per year for each of the next six years. What is the payback period?

• A. 3.00 years
• B. 3.75 years
• C. 4.00 years
• D. 4.67 years

20. It will cost $56,000 to acquire an automated customer ordering system, which will generate incremental after-tax cash flows of $12,000 per year for each of the next six years. Your discount rate is 4.00%. What is the discounted payback period?

• A. 3.17 years
• B. 4.86 years
• C. 5.73 years
• D. The project does not pay back