Question content area top Part 1 Lockbox system Eagle Industries feels that a lockbox system can shorten its accounts

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Question content area top
Part 1
Lockbox system   Eagle Industries feels that a lockbox system
can shorten its accounts receivable collection period by
2
days. Credit sales are
​$2,800,000
per​ year, billed on a continuous basis. The firm has other
equally risky investments with a return of
20​%.
The cost of the lockbox system is
​$8,000
per year.  
​(Note​:
Assume a​ 365-day year.)
a.  What amount of cash will be made available for other uses
under the lockbox​ system?
b.  What net benefit​ (cost) will the firm realize if it
adopts the lockbox​ system? Should it adopt the proposed
lockbox​ system?
Question content area bottom
Part 1
a. The amount of cash that will be made available for other uses
under the lockbox system is
​$enter your response here.
​ (Round to the nearest​ dollar.)
Part 2
b.  The net benefit​ (cost) the firm will realize if it
adopts the lockbox system is
​$enter your response here.
​ (Round to the nearest dollar. Enter a negative number for
a net​ loss.)
Part 3
Should it adopt the proposed lockbox​ system?
​ (Select the best answer​ below.)
Yes
No