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A company purchased a mine for $ 2 , 0 5 9 , 6 8 0 containing an estimated 7 , 3 5 6 ,

A company purchased a mine for $2,059,680 containing an estimated 7,356,000 tons of ore. When mining is complete, the property will have zero salvage value. In Year 1, it mined and sold 858,500 tons of ore.Complete this question by entering your answers in the tabs below.Required 1Required 2Calculate depletion expense for Year 1.Note: Round "Depletion per unit" to two decimal places.Amount subject to depletionTotal units of capacityDepletion per unitUnits extracted and sold in periodDepletion expense

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