Problem #11 (4 points) CC Mining Co. acquired a tract of land containing an extractable natural resource. CC is required by the purchase contract to restore the land to a condition suitable for recreational use after it has extracted the resource. Geological surveys estimate that the recoverable reserves will be 2,500,000 tons and that the extraction will be completed in 5 years. Land: $9,000,000 Exploration and development costs: $1,000,000 10% Credit-adjusted risk free interest rate: Calculate the depletion charge per ton of extracted material