BOK has sales of $500,000, Cost of Goods Sold of $140,000, administrative expenses of $20,000 depreciation expense of $10,000, and interest expense of $30,000. What is the net income for the firm using the following tax schedule?

Taxable Income Tax Rate

$ 1-50,000 10%

$ 50,001-75,000 20%

$ 75,001-100,000 30%

$100,001-335,000 40%

$335,001 + 50%