Question 16 (1 point) A company is considering implementing a lockbox system. There is an annual fee of $5,400 plus a transaction fee of $0.05 per payment. The average size of customer payments is $2,680, and there are 22 payments made daily on average. The company can earn an EAR of 2.28% 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.) 4.32 4.43 4.54 4.64 0 4.75