What annual savings can Aqua Systems expect

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Question - Aqua System Inc. expects to have 12,549,351 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 13.72 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365-day year.

Reference no: EM132964688

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