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What are the savings from the lockbox

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Reference no: EM132922200

Wildhorse Design has daily sales of $66,000. The financial management team has determined that a lockbox would reduce the collection time by 2.1 days. Assuming the company can earn 6.3 percent interest per year, what are the savings from the lockbox? (Round answer to 2 decimal places, e.g. 12.25.)

Reference no: EM132922200

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