Walters Corporation's cash inflows average $$200,\frac{000}{?}$ day. Its bank has offered to implement a lock box$/$concentration banking system that would cut receivables float from $6$ days to $2$ days for an annual fee of $$55,000.$ Walters has a $10\%$ cost of capital and is in the $35\%$ tax bracket.

Reference: Ref $12-4$

What is the net annual benefit $($NAB$)$ of the proposed system?

$$44,250.$

$-$$$15,750$

$$84,250.$

$$4,250$