Question: Question 4 (1 point) A company is considering a lockbox system that will reduce the collection time by 2 days on average. The company can

Question 4 (1 point) A company is considering a lockbox system

Question 4 (1 point) A company is considering a lockbox system that will reduce the collection time by 2 days on average. The company can earn an APR of 5.36% compounded daily on any cash balance. The average number of daily payments submitted to the lockbox is 1,672 with an average cheque size of $104. If the processing fee per cheque is $0.01, what is the NPV of adopting this lockbox? (Assume 365 days in one year.) $228,070 $233,918 $239,766 $245,614 $251,462

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