Natural Resources and Depletion Luper Company acquired a tract of land that contained iron deposits for $4,287,600. Luper spent $226,000 to access the iron ore. Luper estimates that 2,000,000 tons of ore will be extracted. The estimated value of the land after the ore is extracted is $173,600. During the current year, Luper extracts 150,000 tions of iron arti. Requiredt Compute the cost of the natural resource and the amount of depletion taken during the year