Multiple Choice
The Weber Company purchased a mining site for $1,750,000 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.The estimated residual value of the property is $150,000.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
Correct Answer:
Verified
Correct Answer:
Verified
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