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Score: 0 of 1 pt 1 of 10 47 complete) HW Score: 70%. 7 of 10 pts Problem 17-1 (similar to) Question Help 0 (Cash management) As CFO of Portobello Scuba Diving Inc., you are asked to look into the possibility of implementing a system to expedite cash receipts from clients. Portobello receives check remittances totaling $30 million in a year. The fim records and processes 25,000 checks in the same period. The National Bank of Brazil has informed you that it could provide the service of expediting checks and associated documents for a unit cost of $0.10 per check. After conducting an analysis, you project that the cash freed up by the adoption of the system can be invested in a portfolio of near-cash assets that will yield an annual before-tax retum of 10 percent. The company usually uses a 365-day year in its financial calculations a. What reduction in check collection time is necessary for Portobello to be neither better nor worse off for having adopted proposed system? b. How would your solution to part a be affected if Portobello could invest the frood-up balances at an expected annual return of only 5 percent? c. What is the logical explanation for the differences in your answers to parta and part b? a. What reduction in check collection time is necessary for Portobello to be neither better nor worse off for having adopted the proposed system? days (Round three decimal places Enter your answer in the answer box and then click Check Answer. 2 remaining 2 parts Clear All Check