our firm has an average receipt size of $$130.$ A bank has approached you concerning a lockbox service that will decrease your total collection time by two days. You typically receive $6,900$ checks per day. The daily interest rate is $\mathrm{.}018$ percent. The bank charges a lockbox fee of $$165$ per day.

a$.$ What is the NPV of accepting the lockbox agreement? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What would the net annual savings be if the service were adopted? $($Use $365$ days a year. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$