Natural Resources and Depletion Luper Company acquired a tract of land that contained iron deposits for $4,090,600. Luper spent $215,000 to access the iron ore. Luper estimates that 2,000,000 tons ore will be extracted. The estimated value of the land after the ore is extracted is $165,600. During the current year, Luper extracts 150,000 tons of iron ore. Required: Compute the cost of the natural resource and the amount of depletion taken during the year. Cost of the natural resource Amount of depletion $$XX Acquisition Cost Desert State University installed a HD video board with an invoice price of $4,100,000 in its football stadium. Desert State paid an additional $451,000 of delivery and installation costs relating to this board. Because this is one of the largest boards in the world, Desert State also installed ten 5-ton air conditioning units at a total cost of $1,435,000 to keep the board cool in the desert heat. Required: Determine the cost of the video board. $ x