Annual savings can aqua system expect system is implemented

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Reference no: EM13894267

Aqua System Inc. expects to have $23,646,500 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 2 days of float, releasing funds which, when invested, will earn 14.64 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365- day year.

Round the answer to two decimal places

Reference no: EM13894267

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