Looking to have these 2 questions answered with work shown.

example of what an answer would look like:

Reduction in float = $120,000 / day x 2.5 days = $300,000

Value of float reduction = $300,000 x 0.06 = $18,000

Less: Annual operating cost = $7,500

Net before-tax profit = $10,500

(Cost of wire transfer versus paper check) If you send money to firm headquarters with a wire transfer, it costs a fixed $15 and there is no float. On the other hand, if you write a check and mail it, the fixed cost is only $1.50 and the transfer of funds will occur in five days (due to mail times, processing times, and clearing times). The opportunity cost of funds is 8% per year. a. What are the cost of a wire transfer and the cost of a paper check if the amount being forwarded to headquarters is $10,000? b. What are the cost of a wire transfer and the cost of a paper check if the amount being forwarded to headquarters is $30,000? c. What is the breakeven point between a wire transfer and a paper check? (Lockbox) National Distributing, Inc., currently uses a lockbox system with several boxes around the country at a cost of $7,500 per year. If the firm eliminates the lockbox system, it will increase the total time it takes to convert customer payments into available funds by an average of 2 days. The firm collects an average of $70,000 per day. The opportunity cost of funds is 4% per year. What is the expected annual profit from eliminating their lockbox system