Major Manufacturing currently has one bank account located in New York to handle all of its collections. The firm keeps an additional cash balance with the bank of $435,000 to pay for these services. It is considering opening a bank account with West Coast National Bank to speed up collections from its many California-based customers. Major estimates that the West Coast account would reduce collection time by 1 day on the $1.45 million a day of business that it does with its California-based customers. If it opens the account, it can reduce the balance with its New York bank to $245,000 because it will do less business in New York. However, West Coast will require an additional cash balance of $245,000. What would be the net daily benefit of opening the new account?