Paper Submarine Manufacturing is investigating a lockbox system to reduce its collection time. It has determined the following:

Average number of payments per day		340
Average value of payment	$	930
Variable lockbox fee (per transaction)	$	0.30
Daily interest rate on money market securities		0.068	%

The total collection time will be reduced by four days if the lockbox system is adopted.

a.	What is the PV of adopting the system?

PV

$

b.	What is the NPV of adopting the system? (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount.)

NPV

$

c.	What is the net cash flow per day from adopting? Per check? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))

Net cash flow	$ per day
Net cash flow	$ per check