Rapinoe Company paid $200,000 for the rights to mine lead in southeast Missouri. The cost to drill and erect a mine shaft was $2,400,000, and equipment to process the lead ore before shipment to the smelter was $1,800,000. The mine is expected to yield 2,200,000 tons of ore during the five years it is expected to be operating. The equipment has an estimated residual value of $150,000 when mining is concluded. The mine started operations on April 30,2021 . In 2021,300,000 tons of ore were extracted, and in 2022 , 700,000 tons were mined. Using the units-of-production depreciation rate, compute depreciation for 2021. Round to the nearest cent and do not use any dollar (\$) signs when entering your answer (your answer may have decimals). Note that the problem has an error margin to ensure you are not penalized for small deviations in your answers due to rounding. Olivier is considering investing in a company and is curious to know whether that company paid cash for any property in the last year. To figure this out, Olivier should look at that company's: Income statement Statement of cash flows Balance sheet Risk factors