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A coal mine cost $2,000,000 and contained an estimated 1,600,000 tons of coal. In Year 1, 400,000 tons were extracted. What is the depletion expense

A coal mine cost $2,000,000 and contained an estimated 1,600,000 tons of coal. In Year 1, 400,000 tons were extracted. What is the depletion expense in Year 1?

Multiple Choice

$500,000

$2,000,000

$800,000

None of the other alternatives are correct

$400,000

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