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A company purchased mining property containing 15,000,000 tons of ore for $4,875,000. In Year 1,...

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Accounting

A company purchased mining property containing 15,000,000 tons of ore for $4,875,000. In Year 1, it mined 789,000 tons of ore and in Year 2, it mined 1,235,000 tons.

Calculate the depletion expense for each of Years 1 and 2. (2 @ 5 = 10 points)

Depletion/ton

Depletion for Year 1 =

Depletion for Year 2 =

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