On December 31, 2023, Beaver Company's revenue is $310,000 and expenses total $180,000 before consideration of the following: Accrued wages total $11,500; Accrued revenues total $37,000; Depreciation expense is $17,500; Rental revenue of $5,000 was earned; the rent from a tenant was initially recorded by Bates as unearned rent revenue; The income tax rate is 40% of income before income taxes. What is Beaver's net income after consideration of the above information?

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