Exercise 8-29 (Algorithmic) (LO. 8) On March 25, 2019, Parscale Company purchases the rights to a mineral interest for $9,976,500. At that time, the remaining recoverable units in the mineral interest are estimated to be 746,800 tons. If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. If 80,000 tons are mined and 75,000 tons are sold this year, calculate Parscale's cost depletion for 2019. $ 1,001,925 x Feedback Check My Work Natural resources (e.g., oil, gas, coal, gravel, and timber) are subject to depletion, which can be seen as a form of depreciation applicable to natural resources