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What is the depletion expense for the first year

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Reference no: EM133031733

Question - A coal company invests $15 million in a mine estimated to have 20 million tons of coal and no salvage value. It is expected that the mine will be in operation for 5 years. In the first year, 1,000,000 tons of coal are extracted and sold. What is the depletion expense for the first year?

a. $300,000

b. $750,000

c. $75,000

d. Cannot be determined from the information provided.

Reference no: EM133031733

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