During its first year of operations, Mack$$s Plumbing Supply Co$.$ had sales of $$550,000,$ wrote off $$8,800$ of accounts as uncollectible using the direct write$-$off method, and reported net income of $$60,500.$ Determine what the net income would have been if the allowance method had been used and the company estimated that $13/4\%$ of sales would be uncollectible.