On April 2, 2013, Montana Mining Co. pays exist3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine costing exist213,500, with an estimated seven-year life and no salvage value. The machinery will be abandoned when the ore is completely mined. Montana begins mining on May and mines and sells 166,200 tons of ore during the remaining eight months of 2013. Prepare the December 31, 2013, entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mines depletion