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A company purchased a tract of land for its natural resources at a cost of $1,742,900. It expects to mine 2,090,000 tons of ore from

A company purchased a tract of land for its natural resources at a cost of $1,742,900. It expects to mine 2,090,000 tons of ore from this land. The salvage value of the land is expected to be $259,000. The depletion expense per ton of ore is:

Multiple Choice

  • $0.834.
  • $0.958.
  • $8.069.
  • $6.729.
  • $0.710.

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