Early in the Current Year,Amazon Co

Multiple Choice

Early in the current year,Amazon Co.purchased the Rio Silver Mine at a cost of $30,000,000.The mine was estimated to contain 400,000 tons of ore and to have a residual value of $7,500,000 after mining operations are completed.During the year,115,000 tons of ore were removed from the mine.At year-end,the book value of the mine is:

A) $22,500,000.
B) $6,468,750.
C) $23,531,250.
D) $30,000,000.