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8. LSP recently reported $450,000 of sales during the year 2016. The company had $40,000 of outstanding bonds carrying 10% interest rate. Operating costs were
8. LSP recently reported $450,000 of sales during the year 2016. The company had $40,000 of outstanding bonds carrying 10% interest rate. Operating costs were $200,000 other than depreciation, and the firm was facing $34,000 as depreciation. Noting that the federal-plus-state income tax rate was 40%. What is the firm's net income at the end of the year 2016? * $ 127,200 $ 155,200 $ 123,200 $ 217,200 None of the above
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