Consider the following information for New Company for the payroll of April 9: (Click the icon to view the payroll.) When the company's SUTA tax rate was 5.4%, its payroll tax liability for the April 9 payroll was calculated as follows: (Click the icon to view payments with a SUTA tax rate of 5.4%) Now assume the state changed New Company's SUTA tax rate to 3.7%. What effect would this change have on the total payroll tax expense? (Round to the nearest cent as needed.)