XYZ Co. purchased a mine for $600,000 and incurred a cost of $80,000 to prepare...
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XYZ Co. purchased a mine for $600,000 and incurred a cost of $80,000 to prepare for the extraction of ore. The mines estimated value is $40,000 after the ore has been extracted. If the original estimated amount of ore that can be extracted from the mine was 32,000 tons, the depletion charge per ton was A) $17.50 B) $21.25 C) $20.00 D) $18.75
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