Problem 2 On March 25, 2014 Goodnight, Inc. purchased land with iron ore deposits for $10 million. The estimated residual value of the land was $1 million. At the time of purchase a geological survey estimated 4.5 million tons of removable ore were under the ground. In 2014 250,000 tons of ore were mined. A new survey was made during 2015. That survey estimated 3 million tons of ore were available for mining. In 2015 300,000 tons of ore were mined. What was the amount of depletion expense for 2014 and 2015