By obtaining a lockbox, Sheridans Manufacturing was able to reduce its total cash collection time by two days. The firm has annual sales of $609,550 and can earn 5.00 percent annual interest. Assuming that the lockbox costs $40 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.)