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A coal company invests $11 million in a mine estimated to have 20 million tonnes of coal and no residual value. It is expected that

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A coal company invests $11 million in a mine estimated to have 20 million tonnes of coal and no residual value. It is expected that the mine will be in operation for five years. In the first year, 950000 tonnes of coal are extracted and sold. What is the depletion included in cost of goods sold for the first year? It cannot be determined from the information provided. $52250 $220000 $522500

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