6:10 2 . O Question 4 Not yet answered Marked out of 1.00 Flag question On July 1, 20x1, Minero Co. acquired a mine for P13,200,000. After extraction, the land can be sold for P400,000. Estimated reserves were 1,600,000 tons. Minero expects to extract and sell 25,000 tons per month. Minero purchased new equipment on July 1, 20x1. The equipment cost P6,600,000 and had a useful life of 8 years. However, after all the resource is removed, the equipment will be of no use and will be sold for P200,000. COMPUTE FOR THE DEPLETION FOR THE YEAR ENDED DECEMBER 31, 20x1. Answer: Question 5 Not yet answered Marked out of 1.00 Flag question COMPUTE FOR THE DEPRECIATION FOR THE YEAR ENDED DECEMBER 31, 20X1