Kim Mitchell, the new credit manager of the Vinson Corporation, was alarmed to find that Vinson sells on credit terms of net $90$ days while industry$-$wide credit terms have recently been lowered to net $30$ daysOn annual credit sales of $$2\mathrm{.}82$ million, Vinson currently averages $95$ days of sales in accounts receivable. Mitchell estimates that tightening the credit terms to $30$ days would reduce annual sales to $$2,695,000,$ but accounts receivable would drop to $35$ days of sales and the savings on investment in them should more than overcome any loss in profit. Assume that Vinson's variable cost ratio is $82\%,$ taxes are $40\%,$ and the interest rate on funds Invested in receivables is $16\%$