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The Weber Company Purchased a Mining Site for $1,600,000 on July

Question 175

Multiple Choice

The Weber Company purchased a mining site for $1,600,000 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 400,000 tons will be recovered. During the first year, the company extracted 6,500 tons of ore. The depletion expense is


A) $17,500
B) $16,000
C) $26,000
D) $15,000

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