The Granite Rock Manufacturing Company is considering the use of a lock-box collection system.Granite's average check receipt is $1,350.The company invests excess cash in money market certificates and receives an average of 3.5% annual interest.The lock-box system will speed up Granite's collections by 2.5 days.What is the maximum per check processing cost that Granite Rock Manufacturing Company should be willing to pay for the lock-box system?
A) $0.1871
B) $0.2987
C) $0.3236
D) $0.4519

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The Answer of The Granite Rock Manufacturing Company is considering the use of a lock-box collection system.Granite's average check receipt is $1,350.The company invests excess cash in money market certificates and receives an average of 3.5% annual interest.The lock-box system will speed up Granite's collections by 2.5 days.What is the maximum per check processing cost that Granite Rock Manufacturing Company should be willing to pay for the lock-box system?
A) $0.1871
B) $0.2987
C) $0.3236
D) $0.4519

The Granite Rock Manufacturing Company Is Considering the Use of a Lock-Box