The draft budget of Hopp Piraticals includes the following data:

Income statement (extract):

End-of-year statement of financial position (extract):

If the company switches to a credit policy of insisting on full payment from customers within one month, bad debts should fall to 2% of revenue, but revenue would fall by 10% below budget. The extra administrative costs of the new credit policy would be $45,000 per annum. The company's opportunity cost of capital is 20% per annum. All costs of sales vary directly with sales.

How much would the company gain next year (before tax) by introducing the new credit policy?