5. Bania Inc. recently reported $175,000 of sales, $87,750 of operating costs other than depreciation, and $10,700 of depreciation. The company had $27,750 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 25%. How much was Bania's net income? Hint: Use the simple interest equation to find the interest expense for the year: PxRxT Round to the nearest dollar amount. 2 points 6. Seinfeld Inc. reported EBITDA of $2.75 million and $875,000 of net income last year. Seinfeld had $925,000 in interest expense and its corporate tax rate was 25%. What was Seinfeld's depreciation and amortization expense last year? Round to the nearest dollar amount. 2 points