In tax year 1, an electronics-packaging firm had a gross income of $39,000,000, $9,000,000 in salaries, $8,000,000 in wages, $1, 200,000 in depreciation expenses, a loan principal payment of $300,000, and a loan interest payment of $250,000. Determine the net income of the company in tax year 1. The net income of the company in tax year 1 is $20550000