Aqua System Inc. expects to have $11,559,058 in credit sales during the coming year. Currently all checks are sent to th

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answerhappygod
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Aqua System Inc. expects to have $11,559,058 in credit sales during the coming year. Currently all checks are sent to th

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Aqua System Inc. expects to have $11,559,058 in credit sales
during the coming year. Currently all checks are sent to the home
office. A proposed lockbox system can eliminate 5 days of float,
releasing funds which, when invested, will earn 14.05 percent per
year. What annual savings can Aqua System expect if the system is
implemented? Use a 365-day year.
Round the answer to two decimal places
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