A coal mine cost $2,000,000 and contained an estimated 1,600,000 tons of coal. In Year...
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Accounting
A coal mine cost $2,000,000 and contained an estimated 1,600,000 tons of coal. In Year 1, 400,000 tons were extracted. What is the depletion expense in Year 1?
Multiple Choice
$500,000
$2,000,000
$800,000
None of the other alternatives are correct
$400,000
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