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On March 3 1 , 2 0 2 4 , a company purchased the right to remove gravel from an old rock quarry. The gravel

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On March 31,2024, a company purchased the right to remove gravel from an old rock quarry. The gravel is to be sold as roadbed for highway construction. The cost of the quarry rights was $245,700, with estimated salable rock of 27,000 tons. During 2024, The company loaded and sold 4,400 tons of rock and estimated that 22,600 tons remained on December 31,2024. On January 1,2025, the company estimated that 8,800 tons still remained. During 2025, the company loaded and sold 13,200 tons. The company uses the units-of-production method.
The company would record depletion in 2024 in the amount of:
Note: Do not round depletion rate per ton.
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