Giardini Calzature SRL is a recently founded company in Italy that will distribute sports footwear to be acquired from China. The company will work with a net of sales agents throughout Italy to distribute the shoes to the main footwear stores in the country. This company budgeted its activity for the year 2022 from the following information:

- Sales are budgeted at 3.000.000 at an average selling price of 20 by pair.

- The average purchase cost is 12 by pair.

- The estimated logistics and import costs for the year 2022 are 5% of purchases costs.

- The sales commissions of the sales agents are 8% of selling price

- Estimated administrative expenses for the year 2022 are 300,000.

- Italian income tax is projected at 24%

Calculate the companys projected net income for year 2022. Show your calculations