Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities Balance Sheet (in thousands) Assets Rate Earned (%) Cash and due from banks $ 8,000 Investment securities 42,000 8 Repurchase agreements 32,000 6 Loans less allowance for losses 100,000 10 Fixed assets 30,000 Other earning assets 5,000 9 Total assets $217,000 Liabilities and Equity Rate Paid (%) Demand deposits $ 18,800 NOW accounts 89,000 Retail CDs 38,000 7 Subordinated debentures 34,000 Total liabilities 179,000 Common stock 23,000 Paid-in capital surplus 5,000 Retained earnings 10,000 Total liabilities and equity 5217.000 9 5 8 If the bank earns $140,000 in noninterest income, incurs $100.000 in noninterest expenses, and pays $2.700,000 in taxes, what is its net income? (Enter your answer in dollars, not thousands of dollars.) Net income