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A gold mine with lifetime reserves of 4 tons of gold was purchased for $ 2 4 Million in 2 0 1 9 of which

A gold mine with lifetime reserves of 4 tons of gold was purchased for $24 Million in 2019 of which $1 million was for land and the balance was for mineral rights to the gold. Production for 2020 totaled 5,000 pounds of gold which was sold for $1,200 per ounce. Operating costs for 2020 were $74 Million.(1) Compute cost depletion for 2020. Submit answer rounded up to next whole dollar. NO "$" sign, NO commas, NO decimals.(2) Compute maximum allowable percentage depletion for 2020. Submit answer rounded up to next whole dollar. NO "$" sign, NO commas, NO decimals.(3) Which would you choose. Submit either "cost" or "percentage"

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