please answer all. drop down options are below, thank you

dropdown options:

1. customer bank, company bank

2. $23,100, $9,900, $16,500

3. $47,100, $40,500, $33,900

4. the company's branch office, a designated bank account, a designated post office box

5. decentralized, centralized

6. 6 days, 12 days, 15 days,

7. $2,625,000, $2,100,000, $5,250,000

8. $1,916,250, $6,300,000, $63,000

9. $24,000, $70,500, $30,000

10. $1,892,250, $6,229,500, $33,000

11. $6,189,000, $1,851,750, $73,500

12, greater than or equal to zero, negative

13. no, we should not switch, yes we should switch

14. a wire based disbursement system, a courier who would hand carry checks from customers to the bank, a wite transfers from customers to Wichita bank

Walking down the hallway to the executive conference room, Zahra Bradley, the chier financial ofticer of Chocolate Cookie Co, (CCC), is talking with Michaei Hendricks, her administrotive assistant and protege. Read their dialogue and correctly fid in the missing information. CFOt I'm a littie arodous about your presentation to the Finance Committee on Thursday, so I'd nke you to run through your comments and presentation slides with me. Because three board members, including the chair and the president, will be attending, 1 want you to make a very favorable impression. It could mean a great deal to your career with CCC. An upgrade in our receivables collection system could have a shigificant elfect on both CCCi relationship and income stream. MrCHAELt Yes, Lhave my notes and the fash drive wath my presentation fight here. Let me get things organized and 12 begin. After a sught delay, Nichael begins his presentation? Good morning. I would like to present to you the findings of our recent evaluation of the system currently ussed to coliect receivables payments from our customers east of the Mississippi River, With our corporate headquarters in Wichita, Kansas, we currently have broken dewn the country inte two regigns: the portion east of the Mississippi River and the portion west of the river. We have also canducted an evaluation of a groposed lockboxisystem that would break down our customer hase into six geographic subregions, with each being served by a lockbok collection center. These collection centers would then transfer the funds to our imain concentration account here in Wichita. Side. 1 shows you the key attribitos of our current system. slide \#1t Key Attributes of CCC's Current Collection System (Eastern Region, Last Year's Data) 1. Our eastern region customers, stores that sell our cookies and brownies, remit 5,500 checks per month to our office in Wichita. 2. Annuai collections for the region were $63,875,000. 3. The average delay due to float was 15 days ( 8 days mail flost, 4 days processing float, and 3 days clearing float). 4. Our wichits bank currently charges $24,000 per year in service charges and fees of $0.25 per payment to process these payments. 5. CCC maintains a marketable securities portfolio that earns an average return of 3.00%. CFO: Okay, let's stop here for th second, thave a question. How much does our current system cost us? MICHMEt: Ma'om, you'ce getting ahead of me a little; that information is detalled on slide 2. Let me show you. Slide 22 Costs of cCC's Current Collection System (Eastern Region, Last Year's Data) Annual service charges =$24,000 Antuol per-poyment processing fees = Cost of the current system = CFO: Good. What's next? MICMAEL in contrast to the existing system, our Wichita bank has offered to create a lockbox system that would involve customers sending their payments directly to in their region. The banks will process the deposits and then wire the funds to our bank in Wichita. The speofics of the proposal are detalled in slide 3. Slide a3: Costs of CcC's Proposed Lockbox 5y stem 1. The average delay due to float will be reduced to 3 days ( 2 days mall foat; no processing float; 1 day clearing float, including the wire transfer delay). 2. The bank will eliminate its current service charges and fees but will impose a compensating balance of $30,000 on our Wichita account. Similar balances will jot be required in the other six banks. 3. Funds released by the lockbox system will be imvested in marketable securities and will earn an average return of 3.00%. cro: So, should we switch from our current collection system to the lockbox system? MtCMAEL, Yes, I think we should. The benefit to the lockbox system is that it sayes us of float Wait, let me show you slide 4. Slide W4t Evaluation of CcC's Proposed Lockbox System Average collections =$175,000 Released funds = Income earned from the released funds =r Cost of lockbox system m Net earnings on the lockbox system = Net value of the lockbox system over the current system = CFO: So, now 1 have three questions. First, based on these values, how does the Finance Committee know whether to recommend accepting the lockbox proposal? That is, how should we interpret these values? Second, should we give up our current system and switch to the lockbox system? And finally, are there any other methods that CCC could use instead of a lockbox system to return customer funds to the Wichita bank account? MrCHAzLi First, the general rule that determines whether to implement the lockbox system is thist If the net benefits are then accept the proposal. Therefore, based on this criterion, to the lockbox system. And last, as for as alternative methods are concemed, soveral choices are avallable, including CFO: Overall, Michaef, you've done a very good jobt Now, take it easy this evening and get some rest so that you're ready for tomorrow's presentation. I'I see you about an hour before the meting