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

Average number of payments per day		370
Average value of payment	$	960
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? (Omit $ sign in your response.)

b. What is the NPV of adopting the system? (Do not round intermediate calculations. Round the final answer to the nearest whole dollar. Omit $ sign in your response.)

c. What is the net cash flow per day from adopting? Per cheque? (Do not round intermediate calculations. Round the "Net cash flow per day" answer to 2 decimal places. Round the "Net cash flow per cheque" answer to 3 decimal places. Omit $ sign in your response.)

Net cash flow	$	per day
Net cash flow	$	per cheques