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Exercise 8-27 (Algorithmic) (LO. 8) On March 25, Parscale Company purchases the rights to a mineral interest for $8,200,000. At that time, the remaining recoverable
Exercise 8-27 (Algorithmic) (LO. 8) On March 25, Parscale Company purchases the rights to a mineral interest for $8,200,000. At that time, the remaining recoverable units in the mineral interest are estimated to be 800,100 tons. If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. If 720,090 tons are mined and 120,015 tons are sold this year, calculate Parscale's cost depletion for the year. $
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