By obtaining a lockbox, Blossoms Manufacturing was able to reduce its total cash collection time by two days. The firm has annual sales of $547,500 and can earn 4.00 percent annual interest. Assuming that the lockbox costs $38 per year, calculate the savings that can be attributed to the lockbox. (Use 365 days for calculation. Round answer to 2 decimal places, e.g. 12.25.)

Savings from using the lockbox $?? per year