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A coal company invests $15 million in a mine estimated to have 20 million tons of coal and no salvage value. It is expected that

A coal company invests $15 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, 1040000 tons of coal are extracted and sold. What is the depletion expense for the first year?

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