A company purchased a tract of land for its natural resources at a cost of $1,801,300. It expects to mine 2,110,000 tons of ore from this land. The salvage value of the land is expected to be $261,000. The depletion expense per ton of ore is: Multiple Choice $6.902 O $0.854 0 $0.977 $8.084 Ngu owns equipment that cost $105,500 with accumulated depreciation of $72,000. Ngu asks $38,000 for the equipment but sells the equipment for $35,000. Compute the amount of gain or loss on the sale. Multiple Choice $3,000 gain $1.500 gain $4,500 loss $4.500 gain On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $18,000 What is the maturity value (principal plus interest) of the note on March 17 (Use 360 days a year.) Multiple Choice $18,300 $18.600 $18.400 $18.200 An employee earned $44.200 during the year working for an employer when the maximum limit for Social Security was $128,400. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is: Multiple Choice $3,381.30 $640.90 $6.76260 5274040