3. Cat-Mat Corp has sales of $750,000, cost of goods sold of $150,000, depreciation expense of $30,000, and an interest expense of $20,000. What is the net income for the firm? The tax schedule is below: Taxable Income Tax Rate $ 0-50,000 10% $ 50,001-80,000 20% $ 80,001-130,000 30% $130,001-900,000 40% Answer: ____________________