On March 31, 2016, M. Belotti 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 $288,800, with estimated salable rock of 38,000 tons. During 2016, Belotti loaded and sold 5,000 tons of rock and estimated that 33,000 tons remained at December 31, 2016. At January 1, 2017, Belotti estimated that 15,000 tons still remained. During 2017, Belotti loaded and sold 10,000 tons. Belotti would record depletion in 2017 of (Round cost per ton to two decimal places.): Multiple Choice $169,400. $167,200. $180,320. $170,480.