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7. In 2014, Mansfield Mining purchased a mineral deposit for-(Answered)

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7. In 2014, Mansfield Mining purchased a mineral deposit for $12,000,000. It is estimated that 15,000,000 tons can be extracted from the mine. Calculate depletion expense during 2014 assuming 800,000 tons were extracted and 700,000 tons were sold (4 Points).

 

Paper#9209681 | Written in 27-Jul-2016

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