Nero Mines paid $427,000 for the right to extract ore from a 300,000 -ton minecral deposit. In add ton to the purchase price, Nero Mines paid a $125 fing foe to the cocuitry recorder, a $2,200 loente. fee to the state of Colcrado, and $55,675 for a geologic survey. Because the company purchased the rights to the minerals only, it expecis this mineral fights assel to have a residual valize of zero when it is fully depleted. During the first year of production. Nero Mines removed 45,000 tons of ore, of which it sold 39,000 tons. Read the tequimement. (i) Recors the cout of the ore seld