Exhibit I1-04 Kieso Company purchased a tract of land for $4,500,000 in anticipation of extracting 1,425,000 tons of ore. The residual value of the land is expected to be $480,000. The company mines 125,000 tons of ore in the first year Refer to Exhibit 11-04, what is the unit depletion rate? (Round to the nearest $0.01.) Select one: o a $3.16 O b. $3.00 Oc $3.50 d. $2.82