Bu are an analyst in a private equity investment firm KPP and you are evaluating a potential equity investment in a firm, Idaco Corp. After through research and due diligence with Idaco, you believe that: Sales Data: Total Market Size (thousand units) Market Share of Idaco Avg. Sales Price ($/unit) Cost of Goods Data: Raw Materials ($/unit) Direct Labor Costs ($/unit) Growth/Year 4.0% 1.0% 2.0% O $24,495 O $26.795 $ 29,236 O $32,056 1.0% 3.0% Past Year Data(Year 0) 20,000 15.0% $90.00 $20.00 $25.00 In addition, you expect in the next five years: sales and market to be 20% of sales, administrative cost to be 15% of sales, and depreciation to be $ 5M/ year. Corporate tax rate henceforth is 25%. Based on these assumptions, you calculate that at Year 3 Idaco's EBIT is $46,981 (in 000). The interest expense at Year 3 is projected to be $8,000(in 000) What would be your forecast of Idaco's Net Income at Year 3 (in $ 000)