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What is the depreciation included in cost of goods sold

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Problem 1: A coal company invests $12 million in a mine estimated to have 20 million tonnes of coal and no residual value. It is expected that the mine will be in operation for 5 years. In the first year, 1,000,000 tonnes of coal are extracted and sold. What is the depreciation included in cost of goods sold for the first year?

A) $60,000.

B) $600,000.

C) $240,000.

D) Cannot be determined from the information provided.

Reference no: EM132698999

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