Kiso Company purchased a tract of land for $4,500,000 in anticipation of extracting 1,425,000 tons of ore.
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Kiso Company purchased a tract of land for $4,500,000 in anticipation of extracting 1,425,000 tons of ore. The residual value of the land is expected to be $480,000. The company mines 125,000 tons of ore in the first year. What amount of depreciation would be recorded on the income tax returns for Year 5?
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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