A tensile load of 50,000 lb is applied to a metal bar with a 0.6 in. * 0.6 in.cross section and a gauge length of 2 in. Under this load, the bar elastically deforms so that the gauge length increases to 2.007 in. and the cross section decreases to 0.599 in. * 0.599 in. Determine the modulus of elasticity and Poisson’s ratio for this metal.