On January $1,2024,$ Cooper Tree Company $($CTC$)$ purchases a copper mine for $17,500,000.$ The mine is estimated to have $20$ million tons of copper and no residual poxit s value. CTC estimates that it will take $10$ years to extract all the copper contained in the mine. CTC spends an additional $3,500,000$ during the early part of $2024$ preparing the mine. In $2024,$ CTC extracts $3$ million tons of copper; however, none of the copper is sold in $2024.$ On CTC$\text{'}$s financial statement for $2024,$ how would the depletion associated with the extracted copper be reported?

a$.$ As an expense on the income statement

b$.$ As inventory on the statement of financial position

c$.$ As a loss on the income statement sximgo$5$s$7978252z01$ ion anisg $79$rluisn

d$.$ As part of comprehensive income$($unrealized gain$)252201$ jon tud anicg

$.$vletsibemmi b$9$simgoest $97$s eszzol bne znisg dtod $.$b