What is the estimated net annual savings to the firm from, Financial Management

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What is the estimated net annual savings to the firm from

The firm's average accounts receivable is $1,000,000 and is financed by a 7% annual interest bank loan. The firm is considering a regional lockbox system which it believes will reduce Accounts Receivable by 20 percent. The annual cost of the system is S20,000. What is the estimated net annual savings to the firm from implementing the lockbox system and should the firm use the system?

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