Compute the cost depletion

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Reference no: EM131993459

Question: On March 25, 2016, Parscale Company purchases the rights to a mineral interest for $9,795,000. At that time, the remaining recoverable units in the mineral interest are estimated to be 796,000 tons.

If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. If 119,400 tons are mined and 716,400 tons are sold this year, the cost depletion is?

Reference no: EM131993459

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