Managerial ReportDave Wolff the vice president for cash management asked you to

Managerial ReportDave Wolff the vice president for cash management asked you to prepare a report containing your recommendations for the number of lockboxes and the best lockbox locations. Mr. Wolff is primarily concerned with minimizing lost interest income but he wants you to also consider the effect of an annual fee charged for maintaining a lockbox at any location. Although the amount of the fee is unknown at this time we can assume that the fees will be in the range of $20000 to $30000 per location. Once good potential locations have been selected Mr. Wolff will inquire as to the annualfees.