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Gimli Miners recently purchased the rights to a diamond mine. It is estimated that there are one million tons of ore within the mine. Gimli
Gimli Miners recently purchased the rights to a diamond mine. It is estimated that there are one million tons of ore within the mine. Gimli paid $23,500,000 for the rights and expects to harvest the ore over the next ten years. The following is the expected extraction for the next five years. Year 1: 53,000 tons Year 2: 88,000 tons Year 3: 120,000 tons Year 4: 130,000 tons Year 5: 150,000 tons Calculate the depletion expense for the next five years. Do not round intermediate calculations. Year 1$x Year 2 Year 3 x Year 4 Year 5
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