On January 1, 2015, Danville Corporation acquired a cost of $60,000. The machine's service life was estimated to be ten years and its residual value to be $6,000. The Straight-line method was used for depreciation. On January 1, 2020, the machine was no longer useful and was sold for $3,000. For 2020, in regards to this machine, how much of a loss should Danville record? $3,000 $27,000 $30,000 $60,000. Kieso Company purchased a tract of land for $4, 500,000 in anticipation of extracting 1, 425,000 tons of ore. The residual value of the land is expected to be $480,000. The company mines 125.000 tons of ore in the first year What is the unit depletion rate? (Round to the nearest $0. 01.) $3.16 $3.00 $3.50 $2.82