On January 1. Year 1. Jing Company purchased office equipment that cost $35,900 cash. The equipment was dellvered under terms FoB shipping point and transportation cost was $3,900. The equipment hod a five year useful life and a $10,00 oxpected salvage value. Assume that Jing Company earned $39,500 cosh revenue and incurred $28,500 in cash expenses in Yeat 3 . The company uses the stra-ght-line method. The office equipment was sold on December 31, Year 3 for $17,900. What is the company's net income fless) for Year 3 ? Muitiple Choice $5,080 5980 56,920 ($5,080)