11. The term depletion can be defined as: A) the process of allocating the cost of natural resources to periods in which they are consumed B) also called depreciation C) also called amortization D) the process of allocating produced units to periods in which they sold E) process of allocating the cost of intangibles to periods in which they are used 2 12. Goldrush Incorporated purchased a track of mineral deposits for $800,000. It expects this property to produce 1,600,000 tons of ore and to have a salvage value of $50,000. In the year 1, the company mined and sold 70,000 tons of ore, year 2 produced 90,000 tons & year 3 equals 40,000. Its depletion expense for year 2 only equals: A) $ 45,000 B) $ 42,188 C) $ 18,750 D) $ 32,813 E $3,750