3. Med Corp has sales of $550,000, cost of goods sold of $125,000, depreciation expense of $10,000, 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 15% 25% $ 50,001-75,000 $ 75,001-100,000 $100,001-335,000 34% 39%