Zoose Industries sells sport apparels. The company faces the following tax rate schedule:

Taxable Income	Tax on Base of Bracket	Percentage on Excess above Base
Up to $50,000	$0	15%
$50,000-$75,000	7,500	25
$75,000-$100,000	13,750	34
$100,000-$335,000	22,250	39
$335,000-$10,000,000	113,900	34
$10,000,000-$15,000,000	3,400,000	35
$15,000,000-$18,333,333	5,150,000	38
Over $18,333,333	6,416,667	35

Last year the company realized $7,000,000 in operating income (EBIT). Its annual interest expense is $1,500,000. What was the companys net income for the year?

	1.	$3,085,500
	2.	$3,230,700
	3.	$4,174,500
	4.	$3,630,000
	5.	$3,303,300