Exercise 11-23 (Part Level Submission) At the beginning of 2017, Sandhill Company acquired a mine for $1,310,400. Of this amount, $108,000was ascribed to the land value and the remaining portion to the minerals in the mine. Surveys conducted by geologists have indicated that approximately11,910,000units of ore appear to be in the mine. Sandhill incurred $183,600of development costs associated with this mine prior to any extraction of minerals. It also determined that the fair value of its obligation to prepare the land for an alternative use when all of the mineral has been removed was $43,200. During 2017,2,747,000units of ore were extracted and2,057,000of these units were sold. Compute the following.

(a) The total amount of depletion for 2017.(Round per unit answer to 2 decimal places, e.g. 0.45 for computational purpose and final answer to 0 decimal places, e.g. 45,892.)

Depletion for 2017

$