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A company purchased a tract of land for its natural resources at a cost of $1,570,000. It expects to mine 2,070,000 tons of ore from

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A company purchased a tract of land for its natural resources at a cost of $1,570,000. It expects to mine 2,070,000 tons of ore from this land. The salvage value of the land is expected to be $320,000. The depletion expense per ton of ore is: Multiple Choice $0.604 $0.913 $4.906 $0.758 $6.469

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