Waterway Industries acquired a tract of land containing an extractable natural resource. Waterway is required by its purchase contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 2500000 tons, and that the land will have a value of $1100000 after restoration. Relevant cost information follows: Land $7560000 1460000 Estimated restoration costs If Waterway maintains no inventories of extracted material, what should be the charge to depletion expense per ton of extracted material? $3.17 $3.61 $3.02 $2.58