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    ckust08's Avatar
    ckust08 Posts: 2, Reputation: 1
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    #1

    Dec 14, 2007, 10:11 AM
    Lockbox System FINC 321
    A firm has a daily average collection of checks equal to $250,000. It takes the firm approximately 5 days to convert the funds into cash. Assume a lock-box system could be employed which would reduce the cash conversion procedure to 1 and 1/2 days and the firm could invest an additional cash received at 6 percent after taxes. Would the lock box system be a good buy if it costs $23,000 per year?
    sedouard's Avatar
    sedouard Posts: 1, Reputation: 1
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    #2

    Dec 13, 2009, 10:46 AM
    True
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