Wayne Lumber acquired an ore deposit for $975,000. It contains 2,250,000 tons of ore, of which 1,950,000 tons are expected to be economically removable. The company estimates that it will take about 5 years to mine the ore. In the first year, the company mined 225,000 tons of the ore. What is the company's depletion for the first year? $112,500. $195,000. $125,000. $56,250. $97,500. A truck that cost $8,000 was originally being depreciated over four years using the straight- line method with no salvage value. If after one year, it was decided that the truck would last an additional four years (or a total of five years), the second year's depreciation would be: $1,500. $1,000. $2,500. $2,000 A coal company invests $15 million in a mine estimated to have 20 million tons of coal and h salvage value. It is expected that the mine will be in operation for 5 years. In the first year, 3,000,000 tons of coal are extracted and sold. What is the depletion for the first year? $225,000 Cannot be determined from the information provided. $2,250,000 $900,000 Property, Plant, & Equipment must be reviewed for impairment when which one of the following events occur? a significant decrease in the asset's market value occurs. investing activities produce a negative cash flow. a significant change in the asset's estimated useful life occurs. the costs of constructing the asset are less than the budgeted amount