Lexicon has a daily average check collections of $180,000, and it takes the firm 5 days before it can completely process those checks. An automated lockbox system that costs $33,000 a year would reduce the processing time by 2 days. Should Lexicon invest in this system if the opportunity cost of short-term funds is 12.3%? Why or why not?

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The Answer of Lexicon has a daily average check collections of $180,000, and it takes the firm 5 days before it can completely process those checks. An automated lockbox system that costs $33,000 a year would reduce the processing time by 2 days. Should Lexicon invest in this system if the opportunity cost of short-term funds is 12.3%? Why or why not?

Lexicon Has a Daily Average Check Collections of $180,000, and It