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Question - Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $300,000 for extraction rights. A geologist estimated that Santa Fe will recover 5,000 pounds of turquoise. During the past several years. 4,000 pounds were extracted. During the current year, Santa Fe extracted 1,500 pounds of turquoise. Which is sold for $250,000. What is Santa Fe's cost depletion expense for the current year?
A) $ 60,000
B) $ 90,000
C) $ 190,000
D) $160,000
E) none of the choices are correct
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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