On January 1 Year tu company purchased an asset that cost $75,000. The asset had an expected us e of five years and an estimated salvage value of $15.000 uses the straight line method for the recognition of depreciation expense. At the beginning of the fourth year, the company revised its estimated salvage value to $7500 What is the amount of depreciation expense to be recognized during Year 47 Maple Choice O 3500 O 50.000 Help Save On January 1 Year 1 Monroe Minerals Company purchased a copper mine for $124,500,000. The mine was expected to produce 50.000 tons of copper over its useful life. During Year the company extracted 6.900 tons of copper. The copper was sold for $5.400 per tonAssume that the company incurred $8.715,000 in operating expenses during Year 1. What is the amount of net income for Year? Multiple Choice 0 .466000 50.000 SUMA DOO O S IDO