Fauver Industries plans to have a capital budget of $$550,000.$ It wants to maintain a target capital structure of $40\%$ debt and $60\%$ equity, and it also wants to pay a dividend of $$350,000.$ If the company follows the residual dividend model, how much net income must it earn to meet its investment requirements, pay the dividend, and keep the capital structure in balance?

$$788,800$

$$693,600$

$$598,400$

$$680,000$

$$591,600$