LSP. Co, recently reported $200,000 of sales during the year 2016. The company had $20,000 of outstanding bonds carrying 10% interest rate. Operating costs were $80,000 other than depreciation, and...

LSP. Co, recently reported $200,000 of sales during the year 2016. The company had $20,000 of outstanding bonds carrying 10% interest rate. Operating costs were $80,000 other than depreciation, and the firm was facing $12,000 as depreciation. Noting that the federal-plus-state income tax rate was 40%. What is the firm's net income at the end of the year 2016?