Question 10 10 pts Your Company acquired a mineral deposit at a cost of $5,950,000 on January 1 of Year one. It incurred additional costs of $600,000 to access the deposit, which is estimated to contain 2,000,000 tons and is expected to take 5 years to extract. Salvage value will be $50,000. What is the depletion expense for the first year? In the first year, 418,000 tons were mined. $1,243,550. $1,368,950. O $1,950,000 $1,358,500