Montana Mining Company pays $$3,721,000$ for an ore deposit containing $1,525,000$ tons. The company installs machinery in the mine costing $$213,500.$ Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells $166,200$ tons of ore during the year.

Prepare the December $31$ year$-$end entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion.

Note: Round your unit depreciation and depletion rates to $2$ decimal places.

$1$ Record the year$-$end adjusting entry for the depletion expense of ore mine.

$2$ Record the year$-$end adjusting entry for the depreciation expense of the mining machinery.

Note : $=$ journal entry has been entered