Depreciation At the beginning of Year 1, Ithaca Incorporated purchased land for $1,500,000 from which it expects to extract 800,000 tons of minerals. The estimated residual value is $250,000. What is Ithaca's unit depletion rate? Round your answer to two decimal places. per ton Assume Ithaca Incorporated used 25,000 tons in Year 1. What is Ithaca's total depletion for Year : (Round to nearest dollar)