firm a is considering the use of a lock-box, Finance Basics

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firm a is considering the use of a lock-box

Firm A is considering the use of a lock-box system. The firm's average check receipt is $150. The company invests excess cash in money market and earns 8% p.a. The lock-box system will speed up collection by 2.5 days. What is the maximum per check processing cost payable by the firm?

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Finance Basics: firm a is considering the use of a lock-box

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