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Aqua system Inc. expects to have $13,179,500 in credit sales

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Aqua system Inc. expects to have $13,179,500 in credit sales during
the coming year. Currently, all checks are sent to the home office. A proposed lockbox system can eliminate 3 days of float, releasing funds which, when invested, will earn 13.65 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365-day year.

 
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