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m/in/take Assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Gimli Miners recently purchased the rights to a diamond mine. It is estimated that there are one million tons of ore within the mine. Gimli paid $23,000,000 for the rights and expects to harvest the ore over the next ten years. The following is the expected extraction for the next five years. Year 1: 50,000 tons Year 2: 86,000 tons Year 3: 110,000 tons Year 4: 120,000 tons Year 5: 140,000 tons Calculate the depletion expense for the next five years. Do not round intermediate calculations. Year 1 Year 2 $ Year 3 $ Year 4 Year 5 Prepare the journal entry for year one. If an amount box does not require an entry, leave it blank, Check My Work Previous