The Weber Company purchased a mining site for $500,000 on July 1, 2009. The company expects to mine ore for the next 10 years and anticipates that a total of 100,000 tons will be recovered. The estimated residual value of the property is $80,000. During 2009 the company extracted 4,000 tons of ore. The depletion expense for 2009 is
A) $10,500
B) $43,200
C) $16,800
D) $20,000
C
Business
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