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What amount of depletion was recorded in that first year

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Question - Kieso Company purchased a tract of land for $4,500,000 in anticipation of extracting 1,425,000 tons of ore. The residual value of the land is expected to be $480,000. The company mines 125,000 tons of ore in the first year. What amount of depletion was recorded in that first year?

Reference no: EM133093159

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