A company recently reported $650,000 of sales, $425,000 of operating costs other than depreciation, and $10,000 of depreciation. The company had $150,000 of outstanding bonds that carry a 6% interest rate, and its federal-plus-state income tax rate was 25%. How much was the firm's net income? The firm uses the same depreciation expense for tax and stockholder reporting purposes. $159,659$154,500$162,740