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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