Safari File Edit View History Bookmarks Window Help a ne com MBS Direct:.. Management Spinbot.com-..reation Tool. Liberty Unive. . My eContent Learn Cloud Chapter 20 6 SavedHelp Save& Exit Submit 4 Check my work Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 700 payments a day will be made to lock boxes with an average payment size of $3,500. The bank's charge for operating the lock boxes is $0.50 a check. The interest rate is 0.011% per day. 5 points a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. (Do not round intermediate calculations.) eBook Daily interest saved Hint Print b. Is it worthwhile to adopt the system? O Yes References ONo. c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Minimum reduction in time days