he Chungaman Company purchases $$3$ million of raw materials each year on terms of net $30.$ furrently the purchasing agent is paying each invoice $20$ working days after its date to make sure hat payment is received by suppliers in $30$ days. A study shows that payment could be delayed ntil the $25$ th working day and the suppliers will still receive payments by the $30$ th day. How much rould the company save annually by making this change, assuming an $11\%$ cost of funds?