Please note that the subject is Financial Management. Course hero only shows courses like finance and financial Accounting.

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Problem 1. Leeft Bank offers to reduce the collection time for your company's daily cash receipts by two days with its cash management system. This service will cost you $15,000 per year. Currently, short term money market rates average 5%. If you anticipate annual sales of $46.355 million, would you accept the bank's offer?