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Chex Checkers has annual sales of $11,963,692. A lockbox agreement would speed up collections by 3 days but would cost $34,821. If Chex can earn

Chex Checkers has annual sales of $11,963,692. A lockbox agreement would speed up collections by 3 days but would cost $34,821. If Chex can earn 4% on the freed funds, what is its net benefit? Include a negative sign if it is negative.

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