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Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $576,000 for extraction rights. A

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Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $576,000 for extraction rights. A geologist estimates extracted 2,400 pounds of turquoise, which it sold for $370,000. What is Santa Fe's cost depletion expense for the current year? that Santa Fe will recover 8.000 pounds of turquoise. During the current year, Santa Fe Multiple Choice $172,800. None of the choices are correct $576,000. $115.200. $209.360

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