A company purchased land, a bulking, and equipment for one price of $1,300,000. The estimated fair values of the land, building, and equipment are $162,500,$1,137,500, and $325,000, respectively. At what amount would the company record the land? Mutuple Choice $130,000 $140.000 $162,500 $1300000 Foreman Mining purchased land containing a copper deposit for $2,680,000 on January 7, 2021. The company expects to mine 790,000 tons of copper over the next 10 years, and the land is expected to have a residual value of $1,495,000. The company has also purchased mining equipment for $590,000 that will be used only at this site over the 10 years with an estimated residual value of $44,900. By the end of the first yeas the company has mined and sold 55,000 tons of coppec. What is the cost attributed to copper inventory for 2021, assuming the company uses the units-of-production method? Multiple Choice 5137010. 5166,510 5120.450 582.500 On April 23, 2021, Trevors Mining entered into an agreement with the state of California to obtain the rights to operate a mineral mine in California for $14.0 milion. Additional costs and purchases included the following: After the minerals are removed from the mine, the equipment will be sold for an estimated residuativalue of $70,400. The structures will be torn down. The mine is expected to produce 1,600,000 tons of ore. After the ore is removed, the land will revert back to the state of California. During 2021, Trevors extracted 410,000 tons of ore from the mine. What total amount would be charged to depletion of the mine and depreciation of the mining equipment and structures for 2021, assuming that Trevors uses the units-of-production method for both depletion and depreciation? (Do not round your intermediate calculations.)