Problem:
Triumph Trading Company provided the following information to its auditors. For the year ended March 31, 2008, the company had revenues of $1,122,878, operating expenses (excluding depreciation and leasing expenses) of $612,663, depreciation expenses of $231,415, leasing expenses of $126,193, and interest expenses equal to $87,125.
Required:
Question: If the company's tax rate was average 34 percent, what is its net income after taxes?
a. $43,218
b. $65,482
c. $152,607
d. none of these
Note: Please show how to work it out.