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Bramble Mining Company has purchased a tract of mineral land for $1,152,000, it is estimated that this tract will vield 153,600 tons of ore with sufficient mineral content to make mining and processing profitable it is further estimated that 7.680 tons of ore will be mined the first and last year and 15,360 tons every year in between, (Assume 11 years of mining operations.) The land will have a salvage value of $38,400. The company builds necessary structures and sheds on the site at a cost of $46,080. It is estimated that these structures cath serve 15 years but, because they must be dismantled if they are to be moved, they have no salvage value. The company does not intend to use the bullings elsewhere. Mining machinery Installed at the mine was purchased seconchand at a cost of $76,800. This machinery cost the former owner $192,000 and was 50% depreciated when purchased. Bramble Mining estimates that about half of this machinery will still be useful when the present mineral resources have been exhausted, but that dismantling and removal costs will just about offset its value at that time. The company does not intend to use the machinery eisewhere. The remaining machinery will last untl! about one-half the present estimated minerat ore has been removed and will then be worthless. Cost is to be allocated equally between these two classes of machinery. (a) As chief accountant for the company, you are to prepare a schedule showing estimated depletion and depreciation costs for each year of the expected life of the mine. (Round per unit answers to 2 decimal places, e.s. 0.45 for computational purposes and final answers to 0 decimal places, e.g. 45,892.) Bramble Mining Company has purchased a tract of mineral land for $1,152,000, it is estimated that this tract will vield 153,600 tons of ore with sufficient mineral content to make mining and processing profitable it is further estimated that 7.680 tons of ore will be mined the first and last year and 15,360 tons every year in between, (Assume 11 years of mining operations.) The land will have a salvage value of $38,400. The company builds necessary structures and sheds on the site at a cost of $46,080. It is estimated that these structures cath serve 15 years but, because they must be dismantled if they are to be moved, they have no salvage value. The company does not intend to use the bullings elsewhere. Mining machinery Installed at the mine was purchased seconchand at a cost of $76,800. This machinery cost the former owner $192,000 and was 50% depreciated when purchased. Bramble Mining estimates that about half of this machinery will still be useful when the present mineral resources have been exhausted, but that dismantling and removal costs will just about offset its value at that time. The company does not intend to use the machinery eisewhere. The remaining machinery will last untl! about one-half the present estimated minerat ore has been removed and will then be worthless. Cost is to be allocated equally between these two classes of machinery. (a) As chief accountant for the company, you are to prepare a schedule showing estimated depletion and depreciation costs for each year of the expected life of the mine. (Round per unit answers to 2 decimal places, e.s. 0.45 for computational purposes and final answers to 0 decimal places, e.g. 45,892.)