As cash manager for a sporting goods manufacturer, you are responsible for firm's cash management activities. One of these activities is the management of the firm's cash collection system. your firm receives an average of 5,000 remittances per month with average face value of $10,000. your current collection system consists of your customers remitting to the company headquarters. You estimate the average mail delay is 3 days. The typical remittance remains at headquarters for 2 days. You are informed that the average deposit receives good funds in 2 days. Based on the information above, compute the monthly total cost for your cash collection system if your firm's opportunity investment rate is 5 percent and your bank charges S0.35 per item, and a monthly fixed charge of $150. Your bank, interested in selling you a lockbox system, indicates that a lockbox system would reduce mail float by 2 days, processing float by 2 days, and availability float by 1 day. If toe system charges a variable cost of $0.80 per item and monthly fixed cost of $500, should you change to the lockbox system? You may assume opportunity investment rate remains at 5 percent