=+PE 10-7A Depletion obj. 4 EE 10-7 p. 457 Cooke City Mining Co. acquired mineral rights for
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=+PE 10-7A Depletion obj. 4 EE 10-7 p. 457 Cooke City Mining Co. acquired mineral rights for $50,000,000. The mineral deposit is estimated at 125,000,000 tons. During the current year, 42,385,000 tons were mined and sold.
a. Determine the depletion rate.
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