(Answered) A parcel of land purchased by clean energy inc is estimated

Statistics

A parcel of land purchased by Clean Energy, Inc. is estimated to contain 15.25 million tons of anthracite coal. The purchase price was $10,850,000, startup costs were $3,411,000, and the residual value is $1,464,000. If 2,325,000 tons were produced during the year, find the annual depletion cost. (Round depletion cost per unit to the nearest cent)

$1,437,850
$2,476,143
$2,318,644
$1,953,000

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