Question aqua system incexperts to have 20416100 in credit, Ask an Expert

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Question: Aqua System INC.experts to have $20,416,100 in credit sales turning the coming year.Currently, all checks are sent to the home office.A proposed lockbox system can eliminate 3 days of float, implemented releasing fund which, when invested, will earn 8.84 percent per year. What annual saving can Aqua System expect if implemented? Use a 365 day year.

Round answer to two decimal places.

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