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Show all steps and formulas please As soon as possible 7) Utility Resources, Inc. receives an average of 80 checks each day with an average
Show all steps and formulas please As soon as possible 7) Utility Resources, Inc. receives an average of 80 checks each day with an average value of $312 per check. If the firm decides to install a lockbox system, it can reduce its average collection time by 2 days. The cost of the lockbox system is $.29 per check. The daily interest rate on Treasury bills is .015 percent. What is the present value of the daily cost of the lockbox system? Should lockbox system be installed? 5 Marks
Show all steps and formulas please
As soon as possible
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