A company purchased land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore from this land. The residual value of the land is estimated to be $250,000. What is the amount of depletion per ton of ore?
A) $0.75
B) $0.875
C) C)$1.14
D) $0.625

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The Answer of A company purchased land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore from this land. The residual value of the land is estimated to be $250,000. What is the amount of depletion per ton of ore?
A) $0.75
B) $0.875
C) C)$1.14
D) $0.625

A Company Purchased Land for Its Natural Resources at a Cost