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On January 1, 2020, Nishinoya Company purchased a mineral mine for P26,400,000 with removable ore estimated at 1,200,000 tons. During 2020, the entity incurred P2,000,000

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On January 1, 2020, Nishinoya Company purchased a mineral mine for P26,400,000 with removable ore estimated at 1,200,000 tons. During 2020, the entity incurred P2,000,000 exploration cost and P1,600,000 development cost related to drilling of wells. The entity removed 80,000 tons of ore and sold 60,000 tons of ore in 2020. What is the depletion rate per unit? O P22.00 P25.00 O P23.33 O P23.67

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