Multiple Choice
A company purchased a tract of land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore from this land. The residual value of the land is expected to be $250,000. The depletion expense per ton of ore is:
A) $0.75.
B) $0.625.
C) $0.875.
D) $6.00.
E) $8.00.
Correct Answer:
Verified
Correct Answer:
Verified
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