Cardoza Corp

question 41

Multiple Choice

Cardoza Corp.purchased a mine on January 1,2016,for $513,000,which is estimated to contain 30,000 tons of iron ore.There is no residual value.The business extracted and sold 12,500 tons of ore in 2016 and 16,800 tons of ore in 2017.What is the depletion expense for 2017?(Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

• A)$213,750
• B)$501,030
• C)$287,280
• D)$11,970