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The Gold Company purchased a mining site for $600,000 on July 1, 2014. The company expects to mine gold for the next 4 years and

The Gold Company purchased a mining site for $600,000 on July 1, 2014. The company expects to mine gold for the next 4 years and anticipates that a total of 15,000 tons will be recovered. During 2014 the company extracted 4,000 tons of gold. The depletion expense to be recorded for 2014 is

a.$160,000

b.$80,000

c.$75,000

d.$150,000

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