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The Weber Company purchased a mining site for $621,352.00 on July 1. The company expects...

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Accounting

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The Weber Company purchased a mining site for $621,352.00 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 83,109 tons will be recovered. The estimated residual value of the property is $52,086.00. During the first year the company extracted 5,228 tons of ore. What is the depletion expense for the first year? Select the correct answer. $35,809.87 O$39,086.36 $52,086.00 O$56,926.60

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