on wave the reponse. Question 1 of 18 Question 1 5.556 points On July 1. Year 1 Jones Company purchased a gravel pit at a cash cost of 5900.000. It is estimated that 600.000 yards of gravel can be extracted from the pit over its remaining life. By December 31, Year1, 80.000 yards of gravel had been extracted and sold. The amount of depletion expense for Year 1 on this gravel pit would be: O$ 60,000 5240,000 OS 30.000 O $120.000 Moving to another question will save this response. Question 1 of 18