For the fiscal year ending December 31, 20X7, SunBurst Energy Solutions reports the following financial data:

• Total Revenue: $180 million
• Cost of Manufacturing: $70 million
• Research & Development Expenses: $20 million
• Sales and Marketing Expenses: $25 million
• Administrative Expenses: $15 million

With a tax rate of 25%, calculate SunBurst Energy Solutions' net income for the fiscal year.