Question 1 Extractive Industries (10 marks) ABC Mining company paid $5.6 million for a mining property on 1 July 2019 after the geologists of the exploration company estimated that a gold deposit found on the property would produce 42000 ounces of gold. In each of the years 2019-2020 and 2020-2021, ABC spent $225000 per annum developing the property and, during 2020-2021, the company purchased and installed the following assets: The mine building and mining equipment cannot be economically removed from the mine site, but the processing equipment can be removed. On 30 June 2021, engineers estimate that development and construction activities have resulted in $680000 worth of restoration costs that ABC is obligated to spend at the end of the mine's life under commonwealth legislation. The company nominates a discount rate of 8% as relevant for its gold operations. Production started on 1 July 2021 and company geologists estimate that it will take eight years to exhaust the economically recoverable reserves, after which time the mine property is expected to be sold for $100000. Activities in the 2021-22 financial period were: REQUIRED: The financial year for ABC Mining company is from 1 July to 30 June. For the year ended 30 June 2022: a) What are the amortisation rate and amortisation expense? b) What is the depreciation expense related to mine building? c) What is the depreciation expense related to mining equipment? d) What is the depreciation expense related to processing equipment? e) What is the finance cost related to the restoration costs? Keep 2 decimal places for the amortisation rate, and round to the nearest whole $ amount for other answers. No narration is required. Show your calculations