Question 20 4 pts Alter Inc. plans to grow sales at a 10% annual rate for 2016. Interest expense in 2016 is expected to remain at $3,000. Assuming that income statement and balance sheet relationships to sales are unchanged and that the tax rate is 20%. Alter, Inc. 2015 Sales $150,000 Assets $145,000 COGS $120,000 EBIT $30,000 Current liabilities $5,000 Interest $3,000 Total long-term debt $60,000 EBT $27,000 Total equity $80,000 | $5,400 Total liabilities & equity $145,000 Net income $21,600 Dividends $10,800 What is net income for 2016? Less than $25,000 Between $26,501 and $27,000 Above $27,000 Between $25,001 and 26,500