For the last 10 years, Am-Mex Coal has used thecost
Chapter 16, Problem 16.42(choose chapter or problem)
For the last 10 years, Am-Mex Coal has used thecost depletion factor of $2500 per 100 tons to writeoff the investment of $35 million in its Pennsylvaniaanthracite coal mine. Depletion thus far totals$24.8 million. A new study to appraise mine reservesindicates that no more than 800,000 tons ofsalable coal remains. Determine next years costand percentage depletion amounts, if estimatedgross income is expected to be between $6.125 and$8.50 million on a production level of 72,000tons.
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