Determine the depletion charge

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A mine purchased for $3.5 million has a total expected yield of one million ounces of silver. Determine the depletion charge in year 4 when 300,000 ounces are mined and sold for $30 per ounce using (a) cost depletion, and (b) percentage depletion. (c) Which is larger for year 4?

Reference no: EM131112629

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