Please advise correct answer.

In tax year 1, an electronics-packaging firm had a gross income of $38,000,000, $8,000,000 in salaries, $9,000,000 in wages, $900,000 in depreciation expenses, a loan principal payment of $300,000, and a loan interest payment of $250,000. Determine the net income of the company in tax year 1 Click the icon to view the corporate tax schedule for 2015 The net income of the company in tax year 1 is $ 12707501. (Round to the nearest dollar.) More Info i Taxable Income (x) $0-$50,000 50,001-75,000 75,001-100,000 100,001335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 18,333,334 and up Tax Rate 15% 25% 34% 34% + 5% 34% 35% 35% +3% 35% Tax Computation Formula 50 +0.15X 7,500 +0.25(X - $50,000) 13,750 +0.34(X-75,000) 22,250 + 0.39(X - 100,000) 113,900 +0.34(X-335,000) 3,400,000+ 0.35(X- 10,000,000) 5,150,000+ 0.38(X- 15,000,000) 6,416,666 +0.35(X-18,333,333) Print Done