38 Jan 1 of year 1

On January 1 of Year 1. Amber Company purchased a silver mine for $100,000. The mine will have a salvage value of $15,000 when all of the silver is removed. As of January 1 of Year 1, it was expected that the mine contained 20,000 ounces of silver. During Year 1, Amber Company removed 1,000 ounces of silver from the mine. On January 1 of Year 2, Amber Company spent $14,250 to make some mine improvements. The salvage value is still expected to be $15,000 at the end of the life of the mine. It is also estimated that the total amount of silver left in the mine is not impacted by the improvements, so with 1,000 ounces of silver removed during Year 1 there are 19,000 ounces remaining as of the beginning of Year 2. -- During Year 2, Amber Company removed 3,500 ounces of silver from the mine. What is the amount of DEPLETION EXPENSE for Year 2? O $9,750 O $17,500 O $15,900 O $15,000 EV O $16,350 O $13,800 O $18,500 O $10,600