Multiple Choice
A coal company invests $15 million in a mine estimated to have 20 million tons of coal and no salvage value. It is expected that the mine will be in operation for 5 years. In the first year 1000000 tons of coal are extracted and sold. What is the depletion for the first year?
A) $750000
B) $300000
C) $75000
D) Cannot be determined from the information provided.
Correct Answer:
Verified
Correct Answer:
Verified
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