Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. It had $8,000 of bonds outstanding that carry a 7.5% interest rate charge, and its federal-plus-state income tax rate was 25%. What is the firm's Net Income (i.e., Earnings after taxes)? $2,040 $2,250$2,550$2,940