Calculate depletion. (LO 2) Earthlink Mining purchased a copper mine for ($ 12,000,000). The company expects the
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Calculate depletion. (LO 2)
Earthlink Mining purchased a copper mine for \(\$ 12,000,000\). The company expects the mine to produce \(6,000,000\) tons of copper over its 5 -year useful life. During the first year of operations, the company extracts 750,000 tons of copper. How much depletion should Earthlink Mining record for the first year?
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