A proposed new investment has projected sales of $655,000. Variable costs are 38 percent of sales,...

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A proposed new investment has projected sales of $655,000. Variable costs are 38 percent of sales, and fixed costs are $180,000; depreciation is $87,000. Assume a tax rate of 24 percent. What is the projected net income? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. A proposed new investment has projected sales of $655,000. Variable costs are 38 percent of sales, and fixed costs are $180,000; depreciation is $87,000. Assume a tax rate of 24 percent. What is the projected net income? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.