The Sorda Badd Office Supply Company receives an average of 8 cheques per day. The average amount per cheque is $1,500. For years, it has taken the company an average of 5 days to process payments and make the cash available. The company's CFO, is considering a new processing system that is could potentially reduce the average collection time by 5 days. The daily interest rate on Treasury bills is .01 percent. What is the expected daily savings of the new system?