If Merilee Industries Installs a Lockbox System It Should Reduce

If Merilee Industries installs a lockbox system it should reduce its average collection time by 2.2 days at a cost of $.75 per check. On an average day, 594 checks with an average value of $4,618 each are received. The daily interest rate on Treasury bills is .009 percent. What is the net present value of this lockbox arrangement?

A) $4,073,492
B) $2,011,575
C) $1,387,419
D) $1,084,802
E) $974,608