Determining the depletion expense

Reference no: EM13134322

The Weber Company purchased a mining site for $500,000 on July 1, 2009. The company expects to mine ore for the next 10 years and anticipates that a total of 100,000 tons will be recovered. The estimated residual value of the property is $80,000. During 2009, the company extracted and sold 4,000 tons of ore. The depletion expense for 2009 is:

a. $16,800

b. $43,200

c. $20,000

d. $10,500

Reference no: EM13134322

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