Flimflam Corp had sales to customers of $485,000 during 2018. The company has consistently experienced a 35% gross profit percentage and estimates that 5% of all sales will be returned. During 2018, customers returned merchandise for credit of $16,000 to their accounts. The balance in the allowance for sales returns account at the beginning of 2018 was $24,000. What is the balance in the allowance for sales returns account at the end of 2018? Round all calculations to the nearest dollar.