Rick Corporation Purchased a Vein of Coal Ore for $5,250,000

question 95

Multiple Choice

Rick Corporation purchased a vein of coal ore for $5,250,000. It is estimated that 30,000,000 tons of ore are available to be extracted. The residual value is determined to be $250,000. The estimated depletion expense for this year's extraction of 2,750,000 tons of ore (rounded to the nearest dollar) is:

• A) $525,000.
• B) $504,167.
• C) $481,250.
• D) $458,333.
• E) $418,250.

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Definitions:

Testes

The male reproductive organs that produce sperm and hormones, including testosterone.

Uterine Contractions

The rhythmic tightening and relaxing of the uterine muscles, occurring most frequently during childbirth.

Placenta

An organ that develops in the uterus during pregnancy, providing oxygen and nutrients to the growing baby while removing waste products from the baby's blood.

Umbilical Cord

The umbilical cord is a flexible cord-like structure containing blood vessels that connect a fetus to the placenta, providing oxygen and nutrients while removing waste.