Emery Mining Inc. recently reported $122,500 of sales, $73,500 of operating costs other than depreciation, and $8,000 of depreciation. The company had $16,500 of outstanding bonds that carry a 7.25% 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