Solution-What would be depreciation expense at the end of

What would be depreciation expense at the end of first year

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Question - The Ophir Mining Company acquired an iron ore deposit for $2,000,000. The company's geologist estimated the deposit to contain 1,500,000 tons of iron ore. Extracting equipment with a 10-year service life and costing $450,000 was installed in the mine. At the end of the first year, 60,000 tons had been extracted. What would be depreciation expense at the end of first year?

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What would be depreciation expense at the end of first year : At the end of the first year, 60,000 tons had been extracted. What would be depreciation expense at the end of first year

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What would be depreciation expense at the end of first year

Reference no: EM132568042

Reference no: EM132568042

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