On July 4 2017 Wyoming Mining Company Purchased the Mineral

Multiple Choice

On July 4 2017 Wyoming Mining Company purchased the mineral rights to a granite deposit for $1600000. It is estimated that the recoverable granite will be 400000 tons. During 2017 100000 tons of granite was extracted and 60000 tons were sold. The amount of depletion recognized for 2017 would be

A) $200000.
B) $120000.
C) $240000.
D) $400000.