In January 2020, Sheridan Company purchased a mineral mine for $6380000 with removable ore estimated by geological surveys at 2500000 tons. The property has an estimated value of $600000 after the ore has been extracted. Sheridan incurred $1720000 of development costs preparing the property for the extraction of ore. During 2020, 590000 tons were removed and 520000 tons were sold. For the year ended December 31, 2020, Sheridan should include what amount of depletion in its cost of goods sold? O $1560000 O $1364080 O $1202240 O $1770000