Roxy is evaluating a lock-box system that will reduce float by 6 days.The firm has annual sales of $180 million and an opportunity cost of 12%.If the lock-box system is adopted,what is the amount of funds released?
A) $ 355,068.49
B) $ 493,150.68
C) $ 59,178.08
D) $ 2,958,904.11
Correct Answer:
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