Montgomery Flea Market $($MFM$)$ hand manufactures and sells sofas. Below are their costs. Their annual sales are $500$ sofas and they are sold for $$2,500$ each.

Variable costs of production

$$1,200$ per unit

Variable costs of sales and administration

$$200$ per unit

Fixed building costs

$$250,000$ per year

Fixed costs of sales and administration

$$150,000$ per year

A foreign company has offered to sell similar sofas to MFM for $$1,600$ each. If MFM buys the sofas from the foreign company, MFM will no longer manufacture its own doors, and it will continue to sell $500$ sofas a year for $$2,500$ each. The foreign manufacturer has offered to pay MFM $$200,000$ a year for use of its building. If MFM accepts the foreign company's offer, its net income will change by how much?