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A company purchased land for its natural resources at a

A company purchased land for its natural resources at a cost of $1,580,000. It expects to mine 2,200,000 tons of ore from this land. The residual value of the land is estimated to be $370,000. What is the amount of depletion per ton of ore?

$1.128

$0.886

$0.550

$0.718

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