The Weber Company purchased a mining site for $500,000 on July 1, 2009. The company expects to mine ore for the next 10 years and anticipates that a total of 100,000 tons will be recovered. The estimated residual value of the property is $80,000. During 2009 the company extracted 4,000 tons of ore. What is the depletion expense for 2009?

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Solution Depletion Expense 16800 To compute for the Depletion Expense the deplet... View the full answer