A firm currently has sales of $2,500,000 per year, and the costs of goods sold are 80% of sales. The firm has a receivables collection period of 24 days, an inventory conversion period of 73 days, and a payable deferral period of 30 days, assuming a 365-day year. Suppose the firm was able to decrease the inventory conversion cycle by 8 days, decrease the receivable collection cycle by 1 day, and increase the payable deferral by one additional day. By how much would the firm then be able to increase the free cash flow?

a. by zero, because the increases and decreases would offset each other

b. by a negative amount, because the increases would not offset the decreases

c. by approximately $56,164

d. by approximately $45,206