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A coal company invests $12 million in a mine estimated to have 20 million tons of coal and no salvage value. It is expected that

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A coal company invests $12 million in a mine estimated to have 20 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 1,000,000 tons of coal are extracted and sold What is the depletion expense for the first year? 5600.000 $240.000 560.000 Cannot be determined from the information provided

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