Bob Seiger Co has an average receipt size of $60. A bank has approached Bob Seiger Co concerning a lockbox service that will decrease their total collection time by 2 days. Bob Seiger Co typically receives 8,700 checks per day. The daily interest rate is 0.014 percent.

If the bank charges a fee of $180 per day, what is the NPV of the lockbox project?

What would the net annual savings be if the service were adopted?

Bob Seiger Co has an average receipt size of $60. A bank has approached Bob Seiger Co concerning a lockbox service that will decrease their total collection time by 2 days. Bob Seiger Co typically receives 8,700 checks per day. The daily interest rate is 0.014 percent. If the bank charges a fee of $180 per day, what is the NPV of the lockbox project? $(241,714) $ (15,274) $1,043,820 $(251,383) $(232,046) What would the net annual savings be if the service were adopted? $(12,671.72) $ (253.43) $(13,305.30) $(12,038.13) $(12,925.15)