Bonneau Exterprises purchased the mineral rights of a platinum mine for $20,000,000. The geologist estimates...
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Accounting
Bonneau Exterprises purchased the mineral rights of a platinum mine for $20,000,000. The geologist estimates there is 5,000,000 tons of platinum in the mine. During the year 100,000 tons was mined and sold. What is the depletion expense for the year would be? $500,000 $400,000 $0 $200,000
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