Ricardo is buying electrical modules for his company based in Florida. He is purchasing 60,000 modules per year from Thailand at $19.50 each and must pay a customs duty tax of 5% on each unit. Research shows that wage rates in Thailand may increase 20% next year.  The quote of $19.50 each is comprised of 18% labor costs, 70% material costs, and 12% overhead and profit.  If wage rates increase by 20%, how much more will Ricardo have to pay next year compared to this year based on stated demand?