Score: 0 of 2 pts 25 of 25 (10 complete) HW Score: 36.33%, 18.16 of 50 pts P14-14 (similar to) Question Help Float Simon Corporation has daily cash receipts of $63,000. A recent analysis of its collections indicated that customers' payments were in the mail an average of 3 days. Once received, the payments are processed in 2 days. After payments are deposited, it takes an average of 3 days for these receipts to clear the banking system. a. How much collection float (in days) does the firm currently have? b. If the firm's opportunity cost is 8%, would it be economically advisable for the firm to pay an annual fee of $16,800 for a lockbox system to reduce collection float by 2 days? c. What would the company's opportunity cost have to be to make the $16,800 fee worthwhile? a. The amount of collection float (in days) the firm currently has is days. (Round to one decimal place.) Score: 0 of 2 pts 25 of 25 (10 complete) HW Score: 36.33%, 18.16 of 50 pts P14-14 (similar to) Question Help Float Simon Corporation has daily cash receipts of $63,000. A recent analysis of its collections indicated that customers' payments were in the mail an average of 3 days. Once received, the payments are processed in 2 days. After payments are deposited, it takes an average of 3 days for these receipts to clear the banking system. a. How much collection float (in days) does the firm currently have? b. If the firm's opportunity cost is 8%, would it be economically advisable for the firm to pay an annual fee of $16,800 for a lockbox system to reduce collection float by 2 days? c. What would the company's opportunity cost have to be to make the $16,800 fee worthwhile? a. The amount of collection float (in days) the firm currently has is days. (Round to one decimal place.)