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Determine and calculate parscales cost depletion

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Point 1: On March 25, 2019, Parscale Company purchases the rights to a mineral interest for $9,998,500. At that time, the remaining recoverable units in the mineral interest are estimated to be 623,800 tons.

Question 1: If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. If 561,420 tons are mined and 93,570 tons are sold this year, calculate Parscale's cost depletion for 2019.

Reference no: EM132482279

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