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A coal mine cost $1,003,000 and is estimated to hold 51,000 tons of coal. There is no residual value. During the first year of operations, 6,000 tons are extracted and sold. Calculate depletion expense for the first year. (Round any intermediate calculations to the nearest cent.)
A) $118,020
B) $150,450
C) $100,300
D) $200,600
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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