You are given the following projections for a project:

Units sold per year:	63,778
Price per unit:	$ 5.57
Variable cost per unit:	$ 2
Fixed costs per year:	$ 14,201
Initial cost of manufacturing equipment:	$ 95,681
Project life (years):	3
Initial net working capital:	$ 15,533
Tax rate:	21%

The cost of manufacturing equipment will be depreciated straight-line to zero over the projects life.

Note: units sold per year, price per unit, variable cost per unit, fixed cost per year remain the same for each year of the project.

What is the Net Income for year 2 of the project?

Round your answer to 2 decimal places (e.g. 125.74632 = 125.75).