A company purchased a tract of land for its natural resources at a cost of $1,572,500. It expects to mine 2,030,000 tons of ore from this land. The salvage value of the land is expected to be $253,000. The depletion expense per ton of ore is:
A. $0.650.
B. $8.024.
C. $0.899.
D. $0.775.
E. $6.215.
Answer: A
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