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Weber Company purchased a mining site for $616,810 on July 1. The company expects to mine ore for the next 10 years and anticipates that
Weber Company purchased a mining site for $616,810 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 98,611 tons will be recovered. The estimated residual value of the property is $48,575. During the first year, the company extracted 4,627 tons of ore. The depletion expense is Oa. $56,823.50 Ob. $48,575.00 Oc. $26,662.58 Od. $28,941.80
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