Doroteo is a distributor of infant apparel. The company expects to receive 100,000 checks during the coming year totaling P18 million. BPIhas offered…

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Doroteo is a distributor of infant apparel. The company expects to receive 100,000 checks during the coming year totaling P18 million. BPI has offered to install a lock-box system at a charge of P.20 per processed check. If Doroteo is able to earn 5 percent before tax on additional funds, what is the minimum amount of total float days that must be saved to make the system worthwhile?

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