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ntra - Spect Mining Co . acquired mineral rights for $ 8 4 , 0 0 0 , 0 0 0 . The mineral deposit

ntra

-

Spect Mining Co

.

acquired mineral rights for $

84, 000, 000 .

The mineral deposit is estimated at

80, 000, 000

tons. During the current year,

23, 200, 000

tons were mined and sold.

Question Content Area

.

Determine the depletion rate. If required, round your answer to two decimal places.

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