Question: Long Company recently reported $ 1 6 5 , 0 0 0 of sales, $ 1 0 9 , 0 0 0 of operating costs

Long Company recently reported $165,000 of sales, $109,000 of operating costs other than depreciation, and $8,400 of depreciation. The company had $15,000 of outstanding bonds that carry a 8% interest rate, and its federal-plus-state income tax rate was 21%. How much was the firm's net income?

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