A company purchased a mineral deposit for $870,000. It expects this property to produce 1,270,000 tons of ore and to have a salvage value of $57,000. In the current year, the company mined and sold 97,000 tons of ore. Its depletion expense for the current period is equal to:

	$66,449
	$70,802
	$62,095
	$1,480,526
	$141,598

A company purchased a POS cash register on January 1 for $4,900. This register has a useful life of 10 years and a salvage value of $350. What would be the depreciation expense for the second-year of its useful life using the double-declining-balance method?

	$980
	$784
	$700
	$910
	$455

On September 1, 2010, Drill Far Company purchased a tract of land for $2,300,000. The land is estimated to have a salvage value or $50,000, a useful life of four years, and contain an estimated 4,234,000 tons of iron ore. The company also purchased equipment to use in the extraction process that cost $220,450. The company plans to abandon the equipment when the ore is completely mined. During 2010, the company extracted and sold 1.25 million tons of ore. What is the depletion expense recorded for 2010?

	$562,500
	$575,000
	$664,265
	$600,000
	$679,027