The Andrews Company has just purchased $57,795,200 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $5,779,520. What will the book value of this purchase (exclude all other plant and equipment) be after its second year of use? (Use FASB GAAP)

Select : 1

$50,089,173

$46,236,160

$50,859,776

$45,080,256