On January 1, Year 1, Gemstone Mining Company (GMC) paid $10,500,000 cash to purchase a stone pit estimated to hold 50,000 tons of useable material. GMC extracted 10,000 tons of stone in Year 1. The rights to the surface pit were expected to have a $500,000 salvage value at the end of Year 3. Based on this information, the journal entry necessary to recognize depletion expense for Year 1 is???