Aqua system inc expects to have 23646500 in credit sales, Ask an Expert

Finance

Aqua System Inc. expects to have $23,646,500 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 2 days of float, releasing funds which, when invested, will earn 14.64 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365- day year.

Round the answer to two decimal places

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91568313

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