The Weber Company purchased a mining site for $631,762.00 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 87,726 tons will be recovered. The estimated residual value of the property is $48,202.00. During the first year the company extracted 4,222 tons of ore. What is the depletion expense for the first year? Select the correct answer. $28.085.06 $80,404.89 $58,356.00 $48.202.00