Reliable Suppliers receives an average of 10 cheques per day. The average amount per cheque is $1,600. For years, it has taken the company an average of 4 days to process payments and make the cash available. Bernard R. Eliabl, the company's CFO, is considering a new processing system that is could potentially reduce the average collection time by 4 days. The daily interest rate on Treasury bills is .01 percent. What is the expected daily savings of the new system?