Multiple Choice
O'Reilly Corp.purchased a mine on January 1,2016,for $539,000.The mine is estimated to contain 38,000 tons of iron ore.There is no residual value.The business extracted and sold 14,500 tons of ore in 2016 and 14,800 tons of ore in 2017.What is the book value of the mine at the end of 2017? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )
A) $463,000
B) $123,526
C) $377,300
D) $539,000
Correct Answer:
Verified
Correct Answer:
Verified
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