Testbank Multiple Choice Question 102 Swifty Corporation acquired a tract of land containing an extractable natural resource. Swifty is required by its 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 2520000 tons, and that the land will have a value of $1040000 after restoration. Relevant cost information follows: Land $7560000 1400000 Estimated restoration costs If Swifty maintains no inventories of extracted material, what should be the charge to depletion expense per ton of extracted material? O N w $2.59 $3.56 $3.00 $3.14