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National Mining Company purchased a mine, which holds an estimated 3 3 , 0 0 0 tons of iron ore, on January 1 , 2

National Mining Company purchased a mine, which holds an estimated 33,000 tons of iron ore, on January 1,2018, for $507,000. The mine is expected to have zero residual value. The business extracted and sold 17,500 tons of ore in 2018 and 19,800 tons of ore in 2019. What is the depletion expense for 2018?(Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

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