A parcel of land purchased by Clean Energy, Inc is estimated to contain 15.25 million tons of anthracite coal. The purchase price was $10,850,000, startup costs were $3,411,000, and the residual value is $1,464,000. If 2,325,000 tons were produced during the year, find the annual depletion cost. (Round depletion cost per unit to the nearest cent)
A) $1,437,850
B) $2,476,143
C) $2,318,644
D) $1,953,000
D
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What will be an ideal response?
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What will be an ideal response?