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A company purchased a tract of land for its natural resources at a cost of $2,012,000. It expects to mine 2,180,000 tons of ore from

A company purchased a tract of land for its natural resources at a cost of $2,012,000. It expects to mine 2,180,000 tons of ore from this land. The salvage value of the land is expected to be $268,000. The depletion expense per ton of ore is: $8.134. $0.923. $1.046. $7.507. $0.800.

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