Essay
A company purchased mining property containing 15,000,000 tons of ore for $4,875,000. In Year 1, it mined 789,000 tons of ore and in Year 2, it mined 1,235,000 tons. Calculate the depletion expense for Year 1 and Year 2.
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$4,875,000/15,000,000 tons = $...View Answer
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