Sheridan Mining Company purchased land containing an estimated $15$ million tons of ore at a cost of $$4,920,000.$ The land without the ore is estimated to be worth $$720,000.$ The company expects to operate the mine for $12$ years. Buildings costing $$720,000$ are erected on the site and are expected to last for $25$ years. Equipment costing $$450,000$ with an estimated life of $15$ years is installed. The buildings and the equipment possess no salvage value after the mine is closed. During the first year of operations, the mining company mined and sold $2$ million tons of ore.

$($a$)$

$($b$)$

$($c$).$

Your answer is incorrect.

Compute the appropriate first year's depreciation expense for the buildings.

Depreciation expense for the buildings $ $$