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Rosemary Corp. has daily sales of $139,000. The financial manager at the firm has determined that a lockbox would reduce collection time by 2.2 days.
Rosemary Corp. has daily sales of $139,000. The financial manager at the firm has determined that a lockbox would reduce collection time by 2.2 days. Assuming the company can earn 5.5 percent interest per year, what are the potential savings from the lockbox? Please show breakdown of equation.
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