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JKJ Company invests $950,000 in a mine that is estimated to have 9.0 million ounces of gold and a $50,000 residual value. In the first

JKJ Company invests $950,000 in a mine that is estimated to have 9.0 million ounces of gold and a $50,000 residual value. In the first year, 200,000 ounces of gold are extracted. What is the estimated amount of depletion in the first year?

a. $20,000

b. $200,000

c. $50,000

d. $2,000,000

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