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In January, 2017, Yager Corporation purchased a mineral mine for $5,000,000 with removable ore estimated by geological surveys at 2,000,000 tons. The company incurred $1,500,000

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In January, 2017, Yager Corporation purchased a mineral mine for $5,000,000 with removable ore estimated by geological surveys at 2,000,000 tons. The company incurred $1,500,000 of development costs preparing the mine for production. During 2017.600.000 tons were removed and 480,000 tons were sold. What is the amount of depletion that Yager should expense in the income statement for 2017? What is the carrying value of the mine on the balance sheet on December 31, 2017? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). S Paragraph 14px TX % o Q Arial TI

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