Question 29 (7.5 points) Your firm recently reported $3,000,000 in sales. Operating costs are 25% of sales, and depreciation is $250,000. The firm has $800,000 in debt outstanding at a 12% rate. The firm is in the 29% tax bracket. What is the firm's net income? (Please submit your answer using correct labeling, punctuation, etc. For example, for dollar answers, you should enter $5,234,000.00 this way using two decimals.)