Savannah Maloney, CIA and Peyton Markos, CMA registered a new party supplies company with the Illinois Secretary of State's Office: Certified Public Assassins, LLC, which is also known as CPA. And in its first year of operations, CPA had revenue of $200,000. However, CPA had not collected on $20,000 of its sales, and still owes $25,000 on $70,000 of merchandise it purchased. Worth mentioning, there was no inventory on hand at the end of the year. It should also be noted that the company paid $15,000 in salaries, and Peyton and Savannah invested $20,000 in the business (though $20,000 was borrowed on a five-year note). CPA also paid $2,000 in interest, which was what was owed for the year; and it paid $6,000 for a two-year insurance policy on the first day of business. Finally, CPA has an effective income tax rate of 40%.

Based on this information, please compute the net income for CPA.

(a) $ 36,000;

(b) $ 46,000;

(c) $ 56,000;

(d) $ 66,000; or

(e) $ 76,000.