OURCES Multiple Choice Question 199 On January 1, 2017, Cooper Tree Company (CTC) purchases a copper mine for C17,500,000. The mine is estimated to have 20 million tons of copper and no residual value. CTC estimates that it will take 10 years to extract all the copper contained in the mine. CTC spends an additional C3,500,000 during the early part of 2017 preparing the mine. During 2017, CTC extracts and sells 3 million tons of copper. On CTC's December 31, 2017 statement of financial position, at what net amount is the copper mine reported? Study OC17,050,000 18,900,000 15,750,000 14,875,000 C F2 DELL F3 F4 FS F6 144 -" 4 54 $ % ^ 5 9 6 7 G 113 &7 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER FB FO FIO 9 F11 F12 * ' Y 8 9 ENG 08.05 ---