Dexter Inc. currently collects all of its customer payments in Greensboro using a lockbox system. A new lockbox system is expected to reduce the time from to collect checks. The expected time should fall from an average of 8 days to 5 days. Dexter collects $50,000 per day. The extra costs associated with new lockbox system are $10,000 per year. Gear's opportunity cost of funds is 10% per year. What is the expected annual before-tax profit of using the new lockbox system? (Enter your answer in dollars and cents)