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Compute the depletion expense for the first year

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Question - Bering Rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expected to take 6 years to remove. Compute the depletion expense for the first year assuming 38,000 tons were removed and sold.

a. $98,333.

b. $93,158.

c. $38,000.

d. $12,881.

e. $112,100.

Reference no: EM132626908

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