Pasha Corporation produces motorcycle batteries. Pasha turns out 1,200 batteries a day at a cost of $6 per battery for materials and labor. It takes the firm 24 days to convert raw materials into a battery. Pasha allows its customers 40 days in which to pay for the batteries, and the firm generally pays its suppliers in 30 days. Assume 365 days in year for your calculations.

By what amount could Pasha reduce its working capital financing needs if it was able to stretch its payables deferral period to 47 days?