There are eight employees in one team. Every employee earns $16$ per hour, and the team also divides a group bonus among themselves according to their output of product. If production goes above $500$ units, the team receives a bonus of $8$ for each extra unit produced. This bonus is split equally and is paid weekly. In the previous week, each team member worked for $40$ hours, and the team altogether produced $560$ units. What is the pay of each member of the team?
- A$700$
- B$760$
- C$1120$
- D$1200$