Williams & Sons last year reported sales of $10 million with a gross profit rate of 30% and an inventory turnover ratio of 2. The company is now adopting a new inventory system. If the new system is able to reduce the firms inventory level and increase the firms inventory turnover ratio to 5, while maintaining the same level of sales and gross profit rate, how much cash will be freed up? Write amounts fully and not in their short form (e.g. 1,000,000 and not 1M)