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What is the amount of depletion that plover should expense

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Question - In January, 2020, Plover Corporation purchased a mineral mine for $15,300,000 with removable ore estimated by geological surveys at 2,000,000 tons. The property has an estimated value of $900,000 after the ore has been extracted. The company incurred $4,500,000 of costs to build roads and make other permanent improvements to prepare the mine for production. During 2020, 600,000 tons were removed and 480,000 tons were sold. What is the amount of depletion that Plover should expense for 2020?

Reference no: EM132524740

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