Question 3 Not yet A proposed new investment has projected sales of $525,000. Variable costs are 32 percent of sales, and fixed costs are $137,000; depreciation is $38,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? answered Points out of 1.00 Select one: O A. $173,800 P Flag question OB. $220,220 O C. $143,780 O D. $96,650 O E. $101,450 Next page