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In 2021, the Marion Company purchased land containing a mineral mine fot $1,700,000. Additionil costs of $686,000 were incurred to develop the mine. Geologists estimated that 350,000 tons of ore would be extracted. After the ore is removed, the land will have al resalevalue of 511,000 To oid in the extraction, Marion bult various structures and small storoge bulldings on the site at a cost-of $227,500, These structures have a useful lfe of 10 years. The structures cannot be moved after the ore has been removed and will be lett at the site, In addition. new equipment costing $97,000 was purchased and installod at the site. Marion does not plan to move the equipment to andither site. but estimates that it can be soid at auction for $6,000 after the mining project is completed. In 2021, 60.000 tons of ofe were extracted and sold. In 2022 , the estimate of total tons of ore in the mine was revised from 350.000 to 385,000 . During 2022, 97,000 tons were extrocted. Required: 1. Compute depletion and depreciation of the mine and the mining facilties ond equipment for 2021 and 2022.Marion ises the unitsof-production method to determine depreciation on mining focilies and equipment. 2. Compute the book valoe of the mineral mine, structures, and equipment as of Decembet 31.2022

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