The Weber Company purchased a mining site for $1, 750,000 on July 1. The company experts to mine ore for the next 10 years and anticipates that a total of 400,000 tons will be recovered. The estimated residual value of the property is $150,000. During the first year, the company extracted 6, 500 tons of ore. The depletion expense is a. $17, 500 b. $16,000 c. $26,000 d. $15,000