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A company purchased a tract of land for its natural resources at a cost of $2,042,900. It expects to mine 2,190,000 tons of ore from
A company purchased a tract of land for its natural resources at a cost of $2,042,900. It expects to mine 2,190,000 tons of ore from this land. The salvage value of the land is expected to be $269,000. The depletion expense per ton of ore is: |
Multiple Choice
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$8.141.
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$0.933.
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$0.810.
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$1.056.
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$7.594.
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