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Find what is the depreciation included in cost of goods sold

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Reference no: EM132929890

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. What is the depreciation included in cost of goods sold for the first year?

Reference no: EM132929890

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