Arshadi Wineries Is Considering the Purchase of Lockbox Services from Bob's

Arshadi Wineries is considering the purchase of lockbox services from Bob's Bank. Currently, it
takes six days to collect funds from customers; this would be reduced by two days with the lockbox
system. The average number of payments received per day is 300 and the average cheque size is
$150. Bob's will charge 5¢ per cheque in return for operating the lockbox system. Assume one-year T-bills yield 5%, and use a 360-day year.
What is the smallest acceptable reduction in collection time that could occur, from the point-of-view
Of Arshadi Wineries that would make the lockbox acceptable?

A) 2.00 days
B) 2.25 days
C) 2.50 days
D) 2.75 days
E) 3.00 days