Rosemary Corp. has daily sales of $139,000. The financial manager at the firm has determined that a
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Rosemary Corp. has daily sales of $139,000. The financial manager at the firm has determined that a lockbox would reduce collection time by 2.2 days. Assuming the company can earn 5.5 percent interest per year, what are the potential savings from the lockbox?
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Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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