Sheffield Corp. acquired a tract of land containing an extractable natural resource. Sheffield is required by the 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 5010000 tons, and that the land will have a value of $605000 after restoration. Relevant cost information follows:

Land	$6310000
Estimated restoration costs	1180000

If Sheffield maintains no inventories of extracted material, what should be the charge to depletion expense per ton of extracted material?

$1.26

$1.37

$1.50

$1.57