Cofic Company collects its accounts receivable on the 20th day after the sale. It turns its accounts receivable 12 times a year and its inventories 16 times. Currently, the company sells approximately 200,000 units annually at a unit price of $1.8. The company is considering a plan that would extend the payment term of its accounts payable by 20 days. If the company pays 12% per year on its investment in resources, by how much would profits increase if the company pays 35% tax? Assume that the year has 360 days.

Please show all steps and formulas used to calculate each part.