problemlem 9-3 Calculating Projected Net Income [LO 2] A proposed new investment has projected sales of $829,000. Variable costs are 53 percent of sales, and fixed costs are $187,230; depreciation is $93,000. Assume a tax rate of 30 percent. What is the projected net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

p.s. the projected net income is not 48,680.

(show work please)