Dom's custom T-shirts recently reported $300,000 of sales revenue, $130,000 cost of goods sold, $25,000 of miscellaneous operating expenses and $5,000 of depreciation. The company has $175,000 of outstanding debt with a 4% interest. If the firm faces a state-plus-federal average tax rate of 25%, what was its net income? $98,000 $99,400 $99,750 $107,250