Philo Company estimates that the amounts for total depreciation expense for the year ending December 31 will be $70,000 and for year-end bonuses to employees will be $140,000. What total amount of expense relating to these two items should Philo report in its quarterly income statement for the three months ended June 30?
a. $17,500.
b. $35,000.
c. $52,500.
d. $105,000.
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