7 . Santa Fe purchased the rights to extract turquoise on a tract of land over a five- year period . Santa Fe paid $ 300,100 for extraction rights . A geologist estimates that Santa Fe will recover 5,000 pounds of turquoise . . During the current year , Santa Fe extracted 1 500 pounds of turquoise , which it sold for $200 000 . What is Santa Fe's cost depletion expense for the current year ? A . $60.000 B. 590.000 C. $1 10.000 $300.000 E. None of these