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On March 31,2024, a company purchased the right to remove gravel from an old rock...

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Accounting

On March 31,2024, a company purchased the right to remove gravel from an old rock quarry. The gravel is to be sold as roadbed for highway construction. The cost of the quarry rights was $234,000, with estimated salable rock of 30,000 tons. During 2024, the company loaded and sold 4,500 tons of rock. On January 1,2025, the company estimated that 13,500 tons still remained. During 2025, the company loaded and sold 9,000 tons. The company uses the units-of-production method.
The company would record depletion in 2025 in the amount of:
Note: Round cost per ton to two decimal places.
Multiple Choice
$134,770.
$135,850
$132,570.
$145,690.
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