A firm has net sales of $32,000,000, Cost of Goods Sold $14,500,000, Depreciation Expense of $2,500,000, Selling and Administrative Expenses of $4,000,000, Interest Expense of $2,000,000, and an average tax rate of 20%. The firms Net Income is 17,500,000 11,000,000 9,000,000 7,200,000