For 2019, Discovery Manufacturing is considering using a lockbox system to speed up collections from its customers. They have two proposals to consider: one from BB&T, and one from Bank of America to provide a lockbox service. The basic information about each bank's proposal is presented in the table below.

DATA INPUTS
	BB&T Bank	Bank of America
Rate on money market investments	3.14%	3.14%
Average customer payment	$2,145	$2,145
Average number of payments per day	81	81
Annual fixed charge (paid end of year)	$16,800	$5,100
Cost per transaction	$0.11	$0.16
Reduction in collection time	4	2

(a) What is the Net Present Value (NPV) of each of the new lockbox system proposals (including the annual fixed charge)? (Round to the nearest whole dollar)