The weber company purchased a mining site for 1 750000 on, Accounting Basics

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The weber company purchased a mining site for 1 750000 on

Question: The Weber Company purchased a mining site for $1, 750,000 on July 1. The company experts to mine ore for the next 10 years and anticipates that a total of 400,000 tons will be recovered. The estimated residual value of the property is $150,000. During the first year, the company extracted 6, 500 tons of ore. The depletion expense is?

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