Question: Exercise 8-27 (Algorithmic) (LO. 8) On March 25, Parscale Company purchases the rights to a mineral interest for $9,448,500. At that time, the remaining recoverable

Exercise 8-27 (Algorithmic) (LO. 8)

On March 25, Parscale Company purchases the rights to a mineral interest for $9,448,500. At that time, the remaining recoverable units in the mineral interest are estimated to be 578,700 tons.

If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar.

If 520,830 tons are mined and 86,805 tons are sold this year, calculate Parscale's cost depletion for the year.

p.s the answer is NOT 1417275

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