Alaska Minipg Co acquired mineral nghts for $67,500,000. The maneral deposi is estumated at 30,000,000 tons Dunng the cunent year, 4,000,000 tons were initind wod sod Required: a. Defermuie the amount of depietion exponse for the curent yes, b. Journakit the adusting entry on December 31 fo mocognize the depletion expense. Refer to the Chait of Accounts for exad wording of agctount piles