Long Beach Bank employs $4\mathrm{.}40$ loan officers each working $7\mathrm{.}83$ hours per day each officer processes an average of $6\mathrm{.}82$ loans per day the banks payroll cost for the officers is $999$ per day there is a daily overhead expense of $469$ the bank is considering the purchase of new computer software for the loan operation the software will enable each loan officer to process $8\mathrm{.}83$ loans per day although the overhead expense will increase by $50$ compute the new labor productivity