7700 lumens for 175 watts vs. 4000 lumens for 38 watts consumed. Lets do some math
The first bulb uses 175 watts so lets say it is on 10 hours per night. Some winter nights might be quite a bit more and also very cloudy days, but lets just say 10 hours per day x 365 days per year. so 3650 hours per year. Power consumption of 175 watts x 3650 hours is 638,750 watt hours or 638.75 kilowatt hours at lets say $0.13 per kilowatt hour is $83.04 per year to run on average If we use all the above parameters.
Now the LED which does only produce a little more than half the light :
So 10 hours again, so 3650 hours at 38 watts consumed per hour is 138,700 watt hours or 138.7 kilowatt hours x $0.13 per kilowatt hour is $18.03 per year to run it. A savings of 83.04-18.03= $65.01 per year savings. and lets say they would both last 10 years, which I think is reasonable, then your savings would be $650.10. You would be ahead to throw away your present bulb and get 2 LED's and still be ahead hundreds of dollars...
Oh, and for you still running 300 watt incandescent flood lamps as yard lamps and you know who your are... well.. there is not much hope for your bank account!