1.3 Connect: Exercises and Problems () Saved 4 Problem 19-07 Value of Lockboxes [LO2] 15 Paper Submarine Manufacturing is investigating a lockbox system to reduce its points collection time. It has determined the following: ebook Average number of payments per day 335 Average value of payment 925 Hint Variable lockbox fee (per transaction) .40 Print Daily interest rate on money market .068% securities References The total collection time will be reduced by three days if the lockbox system is adopted. a. What is the PV of adopting the system? (Do not round Intermediate calculations and round your answer to the nearest whole dollar amount, c.g., 32.) b. What is the NPV of adopting the system? (Do not round Intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) c. What is the net cash flow per day from adopting the lockbox system? Per check? (Do not round Intermediate calculations and round your answers to 2 decimal places, =.g., 32.16.) 3. PV NPV C. Net cash flow per day Net cash flow per check