McClane, Inc. provided the following aging of its receivables at December 31.

Age of Accounts	Receivables Balance	Estimated % Uncollectible
0-30 days	$420,000	0.5%
31 to 60 days	200,000	5.2%
61 to 90 days	75,000	10.3%
91 to 120 days	35,000	21.5%
Over 121 days	15,000	75.2%
Total	$745,000

During the year, $22,500 of receivables were written off. The balance at the beginning of the year in the allowance account was a credit of $25,000.

1. How much will McClane report as bad debt expense for the year?
2. How much is the net realizable value of McClanes receivables at year end?