DATA INPUTS

U$.$ S$.$ Bank Wells Fargo

Annual interest rate $=3\mathrm{.}84\%3\mathrm{.}84\%$

Average value of each payment $=$ $$5,470$ $$5,470$

Average # of payments per day $=7878$

Annual fixed charge $=$ $$9,500$ $$31,500$

Lockbox fee per payment $=$ $$0\mathrm{.}64$ $$0\mathrm{.}41$

$($a$)$ How many customers are needed, on average each day, to make each of the lockbox systems break even?

$($b$)$ How much of a reduction in accounts receivable should Global expect from the Preferred Lockbox System if implemented in $2024?$