Monroe Minerals Company purchased a copper mine for $124,000,000. The mine was expected to produce 50,000 tons of copper over its useful life. During Year 1, the company extracted 6,800 tons of copper. The copper was sold for $5,300 per ton. Assume that the company incurred $8,680,000 in operating expenses during Year 1. Based on this information, how much net income would Monroe report in Year 1? Multiple Choice $19,176,000. $10,496,000. $8,184,000. $16,864,000.