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Naily [24]
3 years ago
6

Aspen Ore purchased a vein of coal ore for $5,300,000. It is estimated that 32,000,000 tons of ore are available to be extracted

. The estimated depletion expense for this year’s extraction of 2,790,000 tons of ore is: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
Business
1 answer:
emmasim [6.3K]3 years ago
5 0

Answer:

$462,094

Explanation:

Depletion expense is a charge against profits for the use of natural resources. It is calculated by multiply the number of consumed units of the natural resources by the cost per unit.

Cost per unit = Total cost / total number of units expected to be extracted = $5,300,000 / 32,000,000 = 0.165625

Depletion expense = Cost per unit x  extracted units =  0.165625 x 2,790,000 = $462,094

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3 years ago
xcel how many months can a life insurance policy normally be backdated from the date of the application
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6 Months can be a life insurance policy normally be backdated from the date of the application.

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4 0
1 year ago
Suppose two companies own adjacent oil fields. Under the two fields is a common pool of oil worth $60 million. For each well tha
AlekseyPX

Answer:

Each company drills two wells and experiences a profit of $22 million.

Explanation:

If each company acts independently and drills two oil wells each they will have a total of 4 wells each worth (60 million ÷ 4= $15 million.

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8 0
2 years ago
If a city of 10,000 experiences 200 births, 60 deaths, 10 immigrants, and 30 emigrants in the course of a year, what is its net
kykrilka [37]

Solution:


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60 deaths and 30 emigrants will be taken away from the population. Total here is 90.


Just a reminder that an emigrant is somebody who leaves their own country to lastingly settle into a different country.


Therefore, 210 people are added to the population, and 90 people are to be subtracted, for a net gain of 210 - 90 = 120 people.


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3 0
3 years ago
You're deciding whether to install an $800 moonroof and a $400 security system in your car. Suppose the marginal benefit from th
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