Question 11 (1 point) A company is considering implementing a lockbox system. There is an annual fee of $6,180 plus a transaction fee of $0.05 per payment. The average size of customer payments is $3,010, and there are 28 payments made daily on average. The company can earn an EAR of 2.82% on its cash balances. For the lockbox system to be adopted with a positive NPV, by how many days should the average collection time be reduced at a minimum? Fractional answers are OK. (Assume 365 days in a year.) 2.61 2.68 2.75 2.82 2.89