Last year your construction company had operating revenues of $$1,240,000,$ operating costs of $$520,000$ and a CCA of $$98,000$ based upon existing assets. The beginning of that same year the company bought essential new equipment for $$130,000.$ This equipment has a CCA rate of $30\%.$ The company has borrowed money and is paying $$18,000$ per year in interest. Interest paid on borrowed money is tax deductible, so it reduces the taxable income. You also managed somehow to deduct the first$-$class flight tickets for all the vice$-$presidents and their spouses on a business trip to Cancun, Mexico, which cost a total of $$50,000.$ The tax rate is $37\mathrm{.}62\%.$

Calculate Net profit.