XYZ Company, a 'for$-$profit' business, had revenues of $$12$ million in $2022.$ Expenses other than depreciation totaled $75$ percent of revenues. XYZ Company, must pay taxes at a rate of $40$ percent of pretax $($operating$)$ income. All revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash.

Deprecla.un originally was $$1\mathrm{.}5$ million; however, now the compar$,$ nas decided to be more conservative in its depreciation vits capital assets. $xYZ$ now has $$750,000$ in depreciation expense instead of $$1\mathrm{.}5$ million.

Based on this change in depreciation expense, what would XYZ$\text{'}$s net income be$?$

Choice: $$875,000$

Choice: $$1,350,000$

Choice: $$1,500,000$