Multiple Choice
Steel Rolling Company purchased a mine on 1 January 2016 for $529,000 and it is estimated to contain 37,000 tonnes of iron ore.There is no residual value.The company extracted 8500 tonnes of ore in 2016 and 12,800 tonnes of ore in 2017.What is depletion expense for 2017? (Do not round your intermediate calculations. )
A) $183,005
B) $143,527
C) $153,005
D) $122,527
Correct Answer:
Verified
Correct Answer:
Verified
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