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Answer (C) is correct . The additional annual income (loss) from using the lockbox service is the excess (deficit) of interest earned on the early deposits over (under) the cost of the service. If the plan is adopted, the firm’s average cash balance will increase by $900,000 ($300,000 × 3 days). Benefit (loss) = Interest earned – Cost = ($900,000 × 6%) – ($2,000 × 12 months) = $54,000 – $24,000 = $30,000

Answer (A) is incorrect because This figure results from ignoring the additional interest revenue from investing the increased funds.
Answer (B) is incorrect because This figure is based on 2 days of accelerated inflows rather than 3.
Answer (D) is incorrect because This figure results from failing to subtract the annual service charge.