In 2019, Village Mining Company purchased a mining tract for $8,000,000 with reserves of 400,000 tons of ore. They plan to mine the tract over a 15-year period. The company believes they will be required to spend $500,000 for reclamation after the mining has been completed, after which the land will have an estimated value of $1,000,000. If Village Mining Company mines 20,000 tons of ore in 2019, what is the current year depletion? O $350,000 O $375,000 O $400,000 O $425,000 None of the above