The Weber Company purchased a mining site for $667, 436 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 91, 978 tons will be recovered. The estimated residual value of the property is $41, 769. During the first year, the company extracted 4, 132 tons of ore. The depletion expense is $41, 769.00 $62, 566.70 $29, 983.75 $28, 107.33