When WTA, Inc. purchased rights to extract silverfrom a
Chapter 16, Problem 16.37(choose chapter or problem)
When WTA, Inc. purchased rights to extract silverfrom a mine for a total price of $2.1 million 3 yearsago, the estimated 350,000 ounces of silver was to beremoved over the next 10 years. A total of 175,000ounces has been removed and sold thus far. (a) What isthe total cost depletion allowed over the 3 years? (b)New exploratory tests indicate that only an estimated100,000 ounces remain in the veins of the mine. Whatis the cost depletion factor applicable for the next year?
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