Kappa Company originally projected sales of $1,520,000 for the year, a gross margin of 42 percent, a variable expense rate of 12 percent, and fixed expenses of $153,000. Due to instability in its markets, it now projects that its sales will come in 10 percent lower than initially projected. How much is its revised projected net income for the year? 1) $296,000 2) $257,400 3) $325,000 4) $409,010