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Whitmer Inc.sells to customers all over the U.S.,and all receipts come in to its headquarters in New York City.The firm's average accounts receivable balance is $2.5 million,and they are financed by a bank loan at an 11% annual interest rate.The firm is considering setting up a regional lockbox system to speed up collections,and it believes this would reduce receivables by 20%.If the annual cost of the system is $15,000,what pre-tax net annual savings would be realized?
Organic Product
A compound that results from the organic chemical reaction, often characterized by its complex carbon-based molecular structure.
Syn Fashion
A descriptive term for a stereochemical arrangement in which substituents on adjacent carbons are oriented on the same side of a molecule or double bond.
Dihydroxylation
A chemical process that introduces two hydroxyl (-OH) groups across a double bond in alkenes, producing diols.
Hydroboration
A chemical reaction that adds boron and hydrogen across the double bond of alkenes to form organoboranes, a helpful intermediate in organic synthesis.
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