A coal company invests $$20$ million in a mine estimated to have $25$ 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, $1100000$ tons of coal are extracted and sold. What is the depletion expense for the first year?

$$880000$

$$264000$

$$88000$

Cannot be determined from the information provided.