On January 1, Year 1, Jing Company purchased office equipment that cost $35,500 cash. The equipment was delivered under terms foB shipping point, and transportation cost was $3,500. The equigment had a five-year usetul life and a $10,500 expected salvage value. Assume that Jing Company eamed $37,500 cash revenue and incurred $26,500 in cash expenses in Year 3. The company uses the straight-line method. The office equipment was sold on December 31, Year 3 for $17,500. What is the company's net income foss) for Year 3 ? Mutiple Gheice 5900 55,490 t 5.400 15.60 On January 1, Year 1, Victor Company issued bonds weth a $261000 face value, a stated rate of interest of 4%, and a 5 -year term to maturity, The bonds: sold at 97 . Interest is poyable in cosh on December 31 of each year. Victor uses the straight-line method to amorvite bond discounts and premiums. What is the amount of interest expense oppearing on the income statement for the year ending December 31, Year 3? Mutiple Groice 510.420 52,006 57.19 iii $9.690