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The Fast Reader Company supplies bulletin board services to numerous hotel chains nationwide. The owner of the firm is investigating the desirability of employing a

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The Fast Reader Company supplies bulletin board services to numerous hotel chains nationwide. The owner of the firm is investigating the desirability of employing a billing firm to do her billing and collections. Because the billing firm specializes in these services, collection float will be reduced by 20 days. Average daily collections are $10.000, and the owner can eam 8% annually expressed as an APR with monthly compounding) on her investments. If the billing form charges $250 per month, should the owner employ the billing form? Answer: Assuming the billing firm can reduce the collection float immediately, as soon as Fast Reader starts the service they will receive $ (Round to the nearest dollar.) The present value of the billing firm's charges is $ (Round to the nearest dollar) Fast Reader (answer either should" or "should not") employ the billing firm

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