The price of a tennis racquet in shop M was equal to the price of the same tennis racquet in shop N.

A year-end sale had both the shops offering a discount on the racquet.

After the discount, the racquet was available in shop M for $110 and in shop N for $120.

A tennis academy saves $230 when purchasing 10 such racquets from each shop during the sale.

How much money could the academy save by buying 16 such racquets from shop M?