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