Johnny Cash, Inc., an auto parts distributor based in California, is planning to use a lockbox system to speed up collections from its customers located on the East Coast. A Philadelphia-area bank will provide this service for an annual fee of $5,000 paid at the end of the year plus 5 cents per transaction. The estimated reduction in collection and processing time is one day. Treasury bills are currently yielding 5 percent per year, and there are 365 days per year.

If the average customer payment in this region is $4,700, how many customers each day, on average, are needed to make the system profitable for Johnny Cash?