The Fast Reader Company supplies bulletin board services to numerous hotel chains nationwide.The owner of the firm is investigating the benefit of employing a billing firm to do her billing andcollections. Because the billing firm specializes in these services, collection float will be reducedby 20 days. Average daily collections are $1200, and the owner can earn 8% annually (expressedas an APR with monthly compounding) on her investments. Up to what amount, at the end of each month, should Fast Reader be willing to pay for this service?