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QUESTION TWO Swift Oil Company franchises filling stations in Kitwe and Ndola. All payment by franchisees for fuel and lubricants, which average K420,000 a day, are by cheque. At present, the overall all - time between the mailing of the cheque by the franchisee to Swift Oil and the time the company has collected all available funds at its bank is six days. Required A. Compute how much money is tied up in this interval of time. (5 Marks) B. To reduce this delay, the company is considering daily pickups from the stations. In all, three cars would be needed and three additional people hired. This daily pickup would cost K93,000 on an annual basis, and it would reduce the overall delay by two days. Currently, the opportunity cost of funds is 9 percent, that being the interest rate on marketable securities. Should the company inaugurate this plan? Why? (10 Marks) C. Rather than mail cheques to its bank, the company could deliver them by messenger service. This procedure would reduce the overall delay by one day and cost K10,300 annually. Should the company undertake this plan? Why? (10 Marks)