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Allstar Inc. is considering a lockbox system that would reduce its float by three days. An expected 5 0 0 collections per day will be
Allstar Inc. is considering a lockbox system that would reduce its float by three days. An expected collections per day will be made to the lockbox with an average payment size of $ The bank's charge for operating the lockboxes is $ per cheque. The interest rate is percent per day. How much will Allstar save per day by having the lockbox?
Multiple Choice
$
$
$
$
$
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