A coal company invests $12 million in a mine estimated to have 15 million tons of coal and $2,000,000 salvage value. It is expected that the mine will be in operation for 5 years. In the second year,500,000 tons of coal are extracted and sold. What is the depletion expense for the second year? a. $750,000 b. $300,000 C. $75,000 d. Cannot be determined from the information provided