(a) What is the Net Present Value (NPV) of each of the new lockbox system proposals (including the annual fixed charge)? (Round to the nearest whole dollar)
(b) How many average payments per day are needed to make each of the lockbox systems break-even?
(c) Which is the Preferred Lockbox System for Global Manufacturing, Inc.? Wells Fargo or PNC Bank
(d) How much of a reduction in accounts receivable should Global expect from the Preferred Lockbox System if implemented in 2021? (Round to the nearest whole dollar)

PNC Bank 3.02% $4,578 DATA INPUTS Wells Fargo Rate on money market investments 3.02% Average Customer payment $4,578 Average number of payments per day 51 Annual fee $8,500 Cost per transaction $0.54 Reduction in collection time 2 51 $17,850 $0.35