You are evaluating a project for your company MYCO. You estimate the sales price to be $10 per unit and sales volume to be 3,000 units in year 1; 10,000 units in year 2; and 1,000 units in year 3. The project has a three-year life. Variable costs amount to $3 per unit and fixed costs are $25,000 per year. The project requires an initial investment of $50,000 in assets that will be depreciated straight-line to zero over the three-year project life. The tax rate is 34 percent. What is the Net Income for the project in year 2? $29,700 $18.700 $45,000 $28,333