Quip Corporation wants to purchase a new machine for $286,000. Management predicts that the machine will produce sales of $186,000 each year for the next 8 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totoling $80,000 per year. The firm uses straight line depreciation with an assumed residual (salvage) value of $50,000 Quip's combined income tax rate. is 30%. What is the expected net income (after tax) in Year 3 if the proposed investment is undertaken? Round answer to nearest whole dolilar Multiple Cholce $53,550. $39,550. $47,550. $81,550. $83,550