Sheffield Corp. acquired a tract of land containing an extractable natural resource. Sheffield is required by its purchase contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 2500000 tons, and that the land will have a value of $920000 after restoration. Relevant cost information follows: Land $7440000 Estimated restoration costs 1400000 If Sheffield maintains no inventories of extracted material, what should be the charge to depletion expense per ton of extracted material? $2.61 $2.98 $3.17 $3.54