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Mont Mining Co. purchased for 10,630,400 a mine that is estimated to have 48,320,000 tons of ore and no salvage value. In the first year,

Mont Mining Co. purchased for 10,630,400 a mine that is estimated to have 48,320,000 tons of ore and no salvage value. In the first year, 6,440,000 tons of ore are extracted.

show how this mine is reported on the balance sheet at the end of the year

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