Multiple Choice
A drilling company purchased a mining site for $450,000 on July 1, 2016.The company expects to mine ore for the next 10 years and anticipates that a total of 80,000 tons will be recovered.During 2016, the company extracted 5,800 tons of ore.The depletion expense for the year 2016 is:
A) $45,000.
B) $50,800.
C) $5,860.
D) $32,625.
Correct Answer:
Verified
Correct Answer:
Verified
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