A coal company invests $10 million in a mine estimated to have 15 million tons of coal

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A coal company invests $10 million in a mine estimated to have 15 million tons of coal and no salvage value. It is expected that the mine will be in operation for 5 years. In the first year, 1110000 tons of coal are extracted and sold. What is the depletion expense for the first year? $740000$444000$74000 Cannot be determined from the information provided

Posted Date: Jul 10, 2024 03:09 PM

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A coal company invests $10 million in a mine estimated to have 15 million tons of coal

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