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Wontaby Ltd . is extending its credit terms from 3 0 to 4 5 days. Sales are expected to increase from $ 4 . 7

Wontaby Ltd. is extending its credit terms from 30 to 45 days. Sales are expected to increase from $4.72 million to $5.82 million as a result. Wontaby finances short-term assets at the bank at a cost of 10 percent annually. Calculate the additional annual financing cost of this change in credit terms. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole dollar. Enter answer in whole dollar not in million.)
Annual financing cost $

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