Your firm recently reported $2,800,000 in sales. Operating costs are 15% of sales. Depreciation expenses are 10% of sales. The firm has $800,000 in outstanding debt at an 8% interest rate. The firm is in the 22% tax bracket. What is the firms net income?

Question 5 (10 points) Your firm recently reported $2,800,000 in sales. Operating costs are 15% of sales. Depreciation expenses are 10% of sales. The firm has $800,000 in outstanding debt at an 8% interest rate. The firm is in the 22% tax bracket. What is the firm's net income? $1,588,080 O $2,008,080 $1,868,080 None of the above