1. Solare Company acquired mineral rights for $245,300,000. The diamond deposit is estimated at 22,300,000 tons. During the current year, 4,080,000 tons were mined and sold.

   a. Determine the depletion rate. $fill in the blank dc7deffa001ffc6_1 per ton

   b. Determine the amount of depletion expense for the current year. $fill in the blank dc7deffa001ffc6_2

   c. Journalize the adjusting entry to recognize the depletion expense. If an amount box does not require an entry, leave it blank.

   Dec. 31		fill in the blank 0d9e34032fc8fce_2	fill in the blank 0d9e34032fc8fce_3
   		fill in the blank 0d9e34032fc8fce_5	fill in the blank 0d9e34032fc8fce_6