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Skyline Mines, Inc., acquired a mineral deposit for $9,000,000 in 20X6. Geologists estimate the deposit contains 1, 500,000 tons of ore. During 20X6, Skyline Mines

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Skyline Mines, Inc., acquired a mineral deposit for $9,000,000 in 20X6. Geologists estimate the deposit contains 1, 500,000 tons of ore. During 20X6, Skyline Mines removed 400,000 tons and sold 350,000 tons of ore. The amount of depletion that will be expensed and the remaining balance in the Ore Inventory account at December 31, 20X6 are

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