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Twenty Matchbox Manufacturing is investigating a lockbox system to reduce its collection time. It has determined the following: Average number of payments per day 7,600

Twenty Matchbox Manufacturing is investigating a lockbox system to reduce its collection time. It has determined the following: Average number of payments per day 7,600 Average value of payment $120 Variable lockbox fee (per transaction) $0.02 Daily interest rate on money market securities 0.03% The total collection time will be reduced by 5 days if the lockbox system is adopted. Calculate the present value of adopting the system, the NPV of adopting the system, the net cash flow per day from adopting, and the net cash flow per check from adopting.

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