On January 1, 2017, Cooper Tree Company (CTC) purchases a copper mine for 17,500,000. The mine is estimated to have 20 million tons of copper and no residual value. CTC estimates that it will take 10 years to extract all the copper contained in the mine. CTC spends an additional 3,500,000 during the early part of 2017 preparing the mine. During 2017, CTC extracts and sells 3 million tons of copper. On CTCs December 31, 2017 statement of financial position, at what net amount is the copper mine reported? a. 17,850,000 b. 18,900,000 c. 15,750,000 d. 14,875,000

Ans. (A) please show ur work