Current Attempt in Progress Sheffield Corporation acquired a coal mine for $1930000. Intangible development costs totaled $362000. After extraction is completed, Sheffield must restore the property. The estimated fair value of the obligation is $174000, after which the company estimates that it can be sold for $207000. Sheffield estimates that 5000 tons of coal can be extracted. What is the amount of depletion per ton? O $452 O $386 O $407 Save for Later Attempts: 0 of 1 used Submit Answer

Sheffield Corporation acquired a coal mine for $1930000. Intangible development costs totaled $362000. After extraction is completed, Sheffield must restore the property. The estimated fair value of the obligation is $174000, after which the company estimates that it can be sold for $207000. Sheffield estimates that 5000 tons of coal can be extracted. What is the amount of depletion per ton? $452 $493 $386 $407