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pts . . The information below is for Momo Company: During the year, Momo Company signed consulting contracts totaling $19.000.000 During the year. Momo Company completed work on consulting contracts with a total contract price of $14,000,000. Work on the remaining $5,000,000 in contracts is 30% completed. During the year, Momo Company collected ALL the cash from its consulting contracts totaling $19,000,000. The customers paid all of the cash this year even though all of the work is not yet completed (see the previous item). On January 1 of this year, Momo Company purchased a machine for $13,000,000 cash. This machine is expected to be useful for 9 years. The machine has no salvage value. On November 17, Momo Company purchased inventory for $6,000,000 cash. Momo Company plans to sell the inventory next year. . On May 1, Momo Company borrowed $5,000,000 in cash from a local bank. The annual interest rate on the loan is 10%. Momo Company will repay the loan, with interest, next year on April 31. What is Momo Company's NET INCOME for this year? $7.722,222 $12,222,222 $13,722,222 $17.222.222