n April $17,2024,$ the Loadstone Mining Company purchased the rights to a copper mine. The purchase price plus additional costs ecessary to prepare the mine for extraction of the copper totaled $$4,500,000.$ The company expects to extract $900,000$ tons of opper during a four$-$year period. During $2024,240,000$ tons were extracted and sold immediately.

equired:

Calculate depletion for $2024.$

Is depletion considered part of the product cost and included in the cost of inventory?