Monroe Minerals Company purchased a copper mine for $121,500 000. The mine was expected to produce 50,000 tons of copper over its useful ife During Year 1, the company extracted 6.300 tons of copper. The copper was sold for $4,800 per ton. Assume that the company incurred $8,505,000 in operating expenses during Year 1 Based on this information, how much net income would Monroe report in Year 1 Mutiple Choice $433,000 16426,000 ML804000 $15.309000