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Massarone Mining Company purchased a 4,000-acre tract of land in South Dakota for $12 million. They established an underground coal mining company in 20xx. Massarone

Massarone Mining Company purchased a 4,000-acre tract of land in South Dakota for $12 million. They established an underground coal mining company in 20xx. Massarone spent $26,000,000 to sink shafts into the coal seams and otherwise prepare the mine for the operation. Massarone estimates that there are 10,000,000 tons of recoverable coal and the mine will be fully depleted in 8 years. The residual value of the land will be only $500,000. During the year 800,000 tons of coal was mined. Prompt: Compute the cost of the natural resource. 

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