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A proposed single lockbox system will reduce collection time 2 days on average. Daily interest rate on T-bills = .01%. Average number of daily payments

A proposed single lockbox system will reduce collection time 2 days on average. Daily interest rate on T-bills = .01%. Average number of daily payments to the lockbox is 3,000. Average size of the payment is $500. The processing fee is $.08 per check plus $10 to wire funds each day. What is the maximum investment that would make this lockbox system acceptable?

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