7. Extractor Mines recently purchased the rights to a diamond mine. It is estimated that there are one million tons of ore within the mine. Extractor paid $23,100,000 for the rights and expects to harvest the ore over the next ten years. The following is the expected extraction for the next five years. Calculate the depletion expense for the next five years AND create the journal entry for year one. ( 6 pts) - Year 1: 50,000 tons - Year 2:90,000 tons - Year 3: 100,000 tons - Year 4:110,000 tons - Year 5:130.000 tons