In 2010, Minneapolis Mining purchased a mineral deposit for $12,000,000. It is estimated that 15,000,000 tons can be extracted from the mine. Calculate depletion expense during 2010 when 700,000 tons were extracted and sold.

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The Answer of In 2010, Minneapolis Mining purchased a mineral deposit for $12,000,000. It is estimated that 15,000,000 tons can be extracted from the mine. Calculate depletion expense during 2010 when 700,000 tons were extracted and sold.

In 2010, Minneapolis Mining Purchased a Mineral Deposit for $12,000,000