If Merilee Industries installs a lockbox system it should reduce its average collection time by 3,5 days at a cost of $.75 per check. On an average day, 1020 checks with an average value of $5,600 cach are received. The daily interest rate on Treasury bills is .00009 . What is the net present value of this lockbox arrangement? $11,492,000 $21,011,575 $11,387,419 $14,073,492 $9,974,608