Problem:

Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2011, the company had revenues of $878,412, general and administrative expenses of $352,666, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's tax rate was 34 percent,

Required:

Question: What is its net income after taxes?

Note: Please provide equation and explain comprehensively and give step by step solution.