Prime Bank is offering your company the use of their lockbox services. They estimate that you can reduce your average mail time, clearing and processing time by 2.5 days by putting the checks into the clearing system sooner. Your firm receives 198 checks a day with an average value of $2,300 each. The current T-Bill rate is .011 percent per day. Assume a 365-day year. Prime Bank will charge your firm an annual fee of $27,500 plus $.20 per check. What is the annual net savings from installing this system?