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Question 3: Depletion Charges (3 marks) In 2017, Moose Corporation purchased a mine for $200 million (of this, $30 million was applicable to the land).

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Question 3: Depletion Charges (3 marks) In 2017, Moose Corporation purchased a mine for $200 million (of this, $30 million was applicable to the land). An independent evaluation estimated the mine's reserves at 7.5 million tons. During 2017, Moose extracted 900,000 tons. Required: What is Moose's depletion expense for 2017

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