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Compute depletion on the mine

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Question - On March 29, 2020, the Binus Energy Corporation purchased the mineral rights to a Coal deposit in New Bearau for $2 million. Development costs and the present value of estimated land restoration costs totaled an additional $3.4 million. The company removed 200,000 tons of coal during 2021 and estimated that an additional 1,600,000 tons would be removed over the next 15 months.

Required - Compute depletion on the mine for 2020.

Reference no: EM132532182

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