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What annual savings can Aqua Systems expect

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Question - Aqua System Inc. expects to have $13,118,886 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 1 days of float, releasing funds which, when invested, will earn 9.58 percent per year. What annual savings can Aqua System expect if the system is implemented? Use 365-day year.

Reference no: EM132963385

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