based on the depletion rate, what is the credit recorded in the journal?

New Age Mining Corporation (NAMC) purchased the mining rights to a mineral deposit estimated at 500,000 tons of ore. NAMC paid $700,000 for the rights. During the current year, NAMC mined 80,000 tons of ore. What is the Depletion Rate? 60 cents per ton O $5 per ton O $1.40 per ton 0 71.4 cents per ton