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A coal company invests $10 million in a mine estimated to have 15 million tons of coal and no salvage value. It is expected that the mine will be in operation for 5 years. In the rst year, 1050000 tons of coal are extracted and sold. What is the depletion expense for the rst year? A' Cannot be determined from the information provided 1,) $70000 $420000 ,' $700000