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Diamond Drillers purchased a mining site for $550,000 on August 1, 20Y8. The company expects to mine ore for the next 10 years and

Diamond Drillers purchased a mining site for $550,000 on August 1, 20Y8. The company expects to mine ore for the next 10 years and anticipates that a total of 70,000 tons will be recovered. During 20Y8, the company extracted 6,200 tons of ore. The depletion expense for the year 20Y8 is O a. b. $22,917 O b.a. $55,000 Oc. d. $48,714 O d. c. $4,871

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