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Question 15 4 Zimmer Inc. typically receives 770 checks everyday and the average size of check is $720. The company is now considering using a

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Question 15 4 Zimmer Inc. typically receives 770 checks everyday and the average size of check is $720. The company is now considering using a lockbox system. The lockbox system costs with $0.20 per check It can reduce the collection time by two (2) days. What is the NPV of the new lockbox system? Assuming the daily interest rate is 0.014%. $8,800 $1,108,646 -$545,600

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