Question 10 (5 points) Brook Corporation has an agreement with Bank of America whereby the bank handles $8 million in collections per day and requires a $450,000 compensating balance. Brook is contemplating canceling the agreement and dividing its eastern region so that two other banks will handle its business. Banks A and B will each handle $3.5 million of collections per day, and each requires a compensating balance of $300,000. No More Books' financial management expects that collections will be accelerated by one day if the eastern region is divided. What will be the annual net savings? Assume that the T-bill rate is 2.6 percent annually. $95,220 $106.000 $154,770 $178,100 $204,100