Djorkaeff Corporation's cash inflows average $310,000/day. Its bank has offered to implement a lock box/concentration banking system that would cut receivables float from 5 days to 2 days for an annual fee of $175,000. Djorkaeff has a 12% cost of capital and is in the 30% tax bracket. What is the internal rate of return (IRR) of the proposed system? 13.17% 7.90%. 19.76%. 39.52%.