firm to pay an annual fee of $16,500 to reduce collection float by 3 days: Ex plain why or why not. 6 P15-15 Lockbox system Eagle Industries believes that a lockbox system can shorten its 26. counts receivable collection period by 3 days. Credit sales are $3,240,000 per year, billed on a continuous basis. The firm has other equally risky investments that can a return of 15%. The cost of the lockbox system is $9,000 per year. (Note: Assume a 365-day year.) a. What amount of cash will be made available for other uses under the lackhos