TB MC Qu. 10-80 (Algo) Santa Fe purchased the rights to extract... Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $384,000 for extraction rights. A geologist estimates that Santa Fe will recover 6,000 pounds of turquoise. During the current year, Santa Fe extracted 1,800 pounds of turquoise, which it sold for $248,000. What is Santa Fe's cost depletion deduction for the current year? Multiple Choice $76,800 $115,200 $140,240 $384,000 None of the choices are correct.