The Howard Corporation is considering expanding sales by $40,000 by selling on credit. The Corporation's cash sales averaged $200,000 per year for the last few years. Its cost of goods sold was approximately 50% of sales, its operating expenses were 20% of sales, and its income taxes expense averaged 35% of income before taxes. The company predicts that its cost and expense percentages will remain the same, but only 95% of the credit sales will be able to be collected. For the coming year, the company expects cash sales to be $220,000 and credit sales to be $40,000.

Determine the Corporation's expected net income for the coming year.

	a.	$42,250
	b.	$49,400
	c.	$50,700
	d.	$52,000