Lu Homework Work x Question 4 - Hor x x Home|myLU x | Proverb: 22 - The x |W My Citationlists x |I The Best Manag X 4 How should Cho x + O X f - C 4 ezto.mheducation.com/ext/map/index.html?_con=con&zexternal_browser =08launchUrl=https%253A%2525%252Fims.mheducation.com%... @ # # / * 0 Update : Help Save & Exit Submit Homework: Working Capital Management Assignm.. Saved Check my work 4 Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 800 payments a day will be made to lock boxes with an average payment size of $2,000. The bank's charge for operating the lock boxes is $0.30 a check. The interest rate is 0.012% per day. 5 Joints a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. (Do not round intermediate calculations.) eBook Net daily advantage s 144 Hint Print b. Is it worthwhile to adopt the system? . Yes O NO c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? (Do not round intermediate calculations, Round your answer to 2 decimal places.) Minimum reduction in time days Mc