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In 20Y5, Marvin's Mining Company purchased land for $41,600,000 that had a natural resource reserve estimated to be 690,000 tons. Development and road construction costs

In 20Y5, Marvin's Mining Company purchased land for $41,600,000 that had a natural resource reserve estimated to be 690,000 tons. Development and road construction costs on the land were $1,440,000, and a building was constructed at a cost of $880,000. When the natural resources are completely extracted, the land and building have an estimated residual value of $5,600,000. In addition, the cost to restore the property to comply with environmental regulations is estimated to be $3,080,000. Production in 20Y5 and 20Y6 was 50,000 tons and 65,000 tons, respectively.

Compute the depletion charge for 20Y5. Include depreciation on the building, if any, as part of the depletion charge. Note: your answer should be formatted as a whole number without currency symbols or punctuation.

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