Business, 02.12.2021 22:30 madisonnnn68

In 2016, Western Maryland Company paid $3,000,000 for a mining tract with reserves of 100,000 tons of ore, which the company planned to mine over a 20-year period. The company spent $500,000 developing the mine. Western plans to spend $200,000 for reclamation when mining has been completed, after which the land will have an estimated value of $600,000. In 2016, Western mined and sold 8,000 tons of ore. What depletion should Western record for the year

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In 2016, Western Maryland Company paid $3,000,000 for a mining tract with reserves of 100,000 tons o...