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What elk depletion expense is

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Question 1: In 2020, Elk Corporation purchased a mine for $200 million (of this, $30 million was applicable to the land). An independent evaluation estimated the mine's reserves at 7.5 million tonnes. During 2020, Elk extracted 900,000 tonnes. Elk's depletion expense for 2020 is

Reference no: EM132500104

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