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A company purchased a mining site for $300,000 on July 1, 2019. The company expects to mine copper for the next 4 years and anticipates

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A company purchased a mining site for $300,000 on July 1, 2019. The company expects to mine copper for the next 4 years and anticipates that a total of 30,000 tons will be recovered. During 2019 the company extracted 5.000 tons of copper. The depletion expense to be recorded for 2019 is $18,750 $37.500 $50,000 $25,000

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