Question Content Area Depletion Intra-Spect Mining Co. acquired mineral rights for $33,250,000. The mineral deposit is estimated at 35,000,000 tons. During the current year, 8,750,000 tons were mined and sold. Question Content Area a. Determine the depletion rate.

If required, round your answer to two decimal places. $fill in the blank 1 per ton b.

Determine the amount of depletion expense for the current year. $fill in the blank