A company purchased mineral assets holding approximately 225,000 tons of ore for 855,000. The estimated residual value of the assets is zero. During the first year, 47,500 tons are extracted and sold.

A company purchased mineral assets holding approximately 225,000 tons of ore for 855,000. The estimated residual value of the assets is zero. During the first year, 47,500 tons are extracted and sold. What is the amount of depletion for the first year?

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A company purchased mineral assets holding approximately 225,000 tons of ore for 855,000. The estimated residual value of the assets is zero. During the first year, 47,500 tons …

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