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Digger, Inc. paid $120,000 for the rights to mineral deposits containing an estimated 20,000 tons of ore. Digger paid an additional $20,000 for exploration and
Digger, Inc. paid $120,000 for the rights to mineral deposits containing an estimated 20,000 tons of ore. Digger paid an additional $20,000 for exploration and development and estimated there would be no salvage value once the ore was fully extracted. Calculate depletion expense if Digger extracted and sold 8,100 tons of ore?
Depletion expense = Answer
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