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What the depletion expense is

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Question 1: Weber Company purchased a mining site for $617,434 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 96,158 tons will be recovered. The estimated residual value of the property is $52,737. During the first year, the company extracted 4,119 tons of ore. The depletion expense is

a. $52,737.00

b. $56,469.70

c. $26,448.25

d. $24,189.22

Reference no: EM132576935

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