Time remaining: 1:22:27 10. You are considering implementing an electronic payment system for your firm. The system is expected to reduce the collection time by 3 days. On an average day, your firm receives 490 checks with an average value of $95 each. The annual interest rate on Treasury bills is 9 percent. It costs $0.05 to process each payment, and you are also charge a service fee of $500 at the beginning of every 6 month period What is the maximum initial investment to implement this project? Assume 365 days in a year BIUM ** A