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The Joker and Penguin purchase a gold mine for $500,000that is estimated to have 3 tons of gold in the mine. The first year they

The Joker and Penguin purchase a gold mine for $500,000that is estimated to have 3

tons of gold in the mine. The first year they mine 800 pounds of gold and then

determine the mine actually has 5 tons of gold (they hit a gold mine). The next year

they mine 700 pounds of gold. How much can they depreciate in the second year

using the cost depletion method? (Note; there are 2000 pounds in a ton and answer

to the nearest dollar).

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