Question $7$

$1$ pts

Tesla automotive Inc. is planning to use a lockbox system to speed up collections from its customers. The American bank has agreed to provide this service to Tesla for a yearly fee of $$14,000$ which will be paid at year$-$end plus $$0\mathrm{.}05$ per transaction. The expected reduction in collection and processing time is $1$ day. The yield on T$-$bill is currently $5\%$ per year. If the average customer payment is $$5,300,$ approximately how many customers are needed, on average, each day to make the system profitable for the company?

$61$

$57$

$51$

$47$

None of the above