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45. Uptown Bank provides lockbox services. They estimate that you can reduce your average mail time by 2.2 days and your combined clearing and processing

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45. Uptown Bank provides lockbox services. They estimate that you can reduce your average mail time by 2.2 days and your combined clearing and processing time by .75 days by implementing their system. Your firm receives 65 checks a day with an average value of $298 each. The current TBill rate is .01 per day. Assume a 365-day year. Uptown Bank will charge your rm $.30 per check. What is the annual net savings from installing this system? A. $3,215.84 B. $1,022.15 C. $548.32 Q. $5 ,03 1 .84 E. $3,218.28 A AFK'R - Annlun'p

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