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Cullumber Design has daily sales of $58,000. The financial management team has determined that a lockbox would reduce the collection time by 2.1 days. Assuming

Cullumber Design has daily sales of $58,000. The financial management team has determined that a lockbox would reduce the collection time by 2.1 days. Assuming the company can earn 7.5 percent interest per year, what are the savings from the lockbox?

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