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1) A company purchased a tract of land for its natural resources at a cost of 1,500,000. it expects to mine 2,000,0000 tons of ore
1) A company purchased a tract of land for its natural resources at a cost of 1,500,000. it expects to mine 2,000,0000 tons of ore from the land and to have a salvage value of 50,000. in the current year, the company mined and sold 90,000 tons of ore.
its depletion expense for the current period equals:
a) 0.750$
b) 0.625$
c) 0.875$
d) 6.00$
e) 8.00$
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