An asset was purchased for $108,000 on January 1 Year 1 and originally estimated to have a useful life of 12 years with a residual value of $12,500. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,400. Calculate the third-year depreciation expense using the revised amounts and straight-line method. a. $22.420.83 Ob. $21.430.83 Oc. $22,920.83 Od. $23.420.83 On July 8, Jones Inc. issued an $61,400, 6%, 120-day note payable to Miler Company, Assume that the fiscal year of Jones ends July 31. Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar. a. 5470 Ob. 5235 Oc. 51,684 Od. 5705