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What annual savings can aqua system expect

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Question: Aqua system Inc. Expects to have $4,978,318 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 10.24 percent per year. What annual savings can aqua system expect if the system is implemented? Use 365 day calender.

Reference no: EM132756183

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