Joe's Bicycles is considering relaxing its credit standards to encourage more sales. As a result, sales are expected to increase $15$ percent from $1,000$ canoes per year to $1,150$ canoes per year. The average collection period is expected to increase to $51$ days from $36$ days and bad debts are expected to double the current $1$ percent level. The price per canoe is $$400,$ the variable cost per canoe is $$300$ and the average cost per unit at the $1,000$ unit level is $$350.$ The firm does not expect any change in inventories. The firm's required return on investment is $20$ percent. What is the net result of implementing the proposed plan? $($Assume a $365-$day year$)$

Group of answer choices

$$5,914$

$$3,186$

$$5,510$

$$6,077$