LSP recently reported $400,000 of sales during the year 2016. The company had $40,000 of outstanding bonds carrying 10% interest rate.Operating costs were $160,000 other than depreciation, and the firm was facing $24,000 as depreciation. Noting that the federal-plus-state income tax rate was 40%. What is the firm's net income at the end of the year 2016? * $ 107,200 $ 190,800 $ 127,200 $ 0