A company purchased mining property containing 7,350,000 tons of ore for $1,837,500.In 2009 it mined and sold 857,000 tons of ore and in 2010 it mined and sold 943,000 tons of ore.Calculate the depletion expense for 2009 and 2010.What was the book value of the property at the end of 2010?

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The Answer of A company purchased mining property containing 7,350,000 tons of ore for $1,837,500.In 2009 it mined and sold 857,000 tons of ore and in 2010 it mined and sold 943,000 tons of ore.Calculate the depletion expense for 2009 and 2010.What was the book value of the property at the end of 2010?

A Company Purchased Mining Property Containing 7,350,000 Tons of Ore