Question: For $ 4 2 , 3 5 0 , 0 0 0 , Wesco Developers purchased land which their experts believe to contain 2 8

For $42,350,000, Wesco Developers purchased land which their experts believe to contain 28.5 million tons of copper ore. It cost $12,443,000 to develop the property, whose residual value is estimated as $5,985,000.
Determine the current year depletion expense (in $) if annual production amounted to 4,843,000 tons. Round depletion cost per unit to the nearest cent.

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