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Determine what is the depreciation included in cost of goods

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Reference no: EM132930819

Problem 1: A coal company invests $11900000 in a mine estimated to have 19600000 tonnes of coal and no residual value. It is expected that the mine will be in operation for 5 years. In the first year, 1070000 tonnes of coal are extracted and sold. Determine what is the depreciation included in cost of goods sold for the first year?

Option 1: $649643

Option 2: $238000

Option 3: $64964

Option 4: cannot be determined from the information provided

Reference no: EM132930819

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