Martin Inc

question 129

Multiple Choice

Martin Inc.is considering a lockbox system that will increase its check processing cost by $.15 per check.The company estimates an average check size of $1,700 and expects the lockbox to reduce check collection time by 3 days.What annual before-tax yield must Martin Inc.earn on its marketable securities for the lockbox system to be beneficial?

• A) 1.825%
• B) 1.118%
• C) 1.074%
• D) 0.735%

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