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In January, Year 17, Bonita Industries purchased a mineral mine for $5400000 with removable ore estimated by geological surveys at 1500000 tons. The property
"In January, Year 17, Bonita Industries purchased a mineral mine for $5400000 with removable ore estimated by geological surveys at 1500000 tons. The property has an estimated value of $280000 after the ore has been extracted. The company incurred $1600000 of development costs preparing the mine for production. During Year 17, 600000 tons were removed and 510000 tons were sold. What is the amount of depletion that Bonita should expense for Year 17?" O "$2,788,800" "$2,284,800" O "$1,924,800" O "$2,212,800"
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