Q 1.Aqua System Inc. expects to have $29,909,107 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 1 days of float, releasing funds which, when invested, will earn 10.31 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365-day year. Round the answer to two decimal places 2.Book Depot Inc. sells on terms of 1/15, net 90. What is the implicit cost of trade credit under these terms? Use a 365-day year. Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box) 3.Pets Store Inc. sells on terms of 1/15, net 35. What is the effective annual cost of trade credit under these terms? Use a 365-day year. Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)

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