Aqua System Inc. expects to have $23,911,800 in credit sales during the coming year. Currently, all checks are sent to the home office. A proposed lockbox system can eliminate 2 days of float, releasing funds which, when invested, will earn 11.01 percent per year. 

What annual savings can aqua system expect if the system is implemented? Use a 365-day year.

Answer rating: 100% (QA)

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