Cameron Company Purchased a Mine on January 1,2018,for $533,000,which Is

question 94

Multiple Choice

Cameron Company purchased a mine on January 1,2018,for $533,000,which is estimated to contain 30,000 tons of iron ore.There is no residual value.The business extracted and sold 13,500 tons of ore in 2018 and 13,800 tons of ore in 2019.What is the depletion expense for 2019?(Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar.)

• A) $239,895
• B) $485,121
• C) $245,226
• D) $47,979

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